PhosAgro, a global leader in phosphate-based fertilizer production, has announced the outcomes of its Extraordinary General Meeting of Shareholders (EGM), held on 11 September 2024. This meeting followed a Board of Directors decision on 7 August, where the company highlighted strong production growth during the first half of 2024.
In this period, PhosAgro increased agrochemical production by 3.6%, reaching 5.9 million tonnes. CEO Mikhail Rybnikov noted that, at this pace, the company is set to surpass 11.5 million tonnes of production by the end of the year.
PhosAgro has also continued advancing its strategic development plan through 2025. This year, the company plans to invest over RUB 73 billion, marking a new record in its capital expenditures.
A key focus for PhosAgro remains investing in human capital. The Apatity branch of Murmansk Arctic University is set to become the country’s premier center for training mining engineers, serving both PhosAgro and the broader mining industry. Already, RUB 3 billion has been invested in the development of this facility.
During the EGM, shareholders approved a dividend payout of RUB 117 per ordinary share, with 22 September 2024 designated as the record date for these payments.
Viktor Cherepov, Chairman of the Board of Directors, reaffirmed the company’s commitment to its long-term growth strategy, which includes expanding production capacity, delivering environmentally friendly products, and investing heavily in social programs, including personnel training. Over the past decade, PhosAgro has invested more than RUB 11.5 billion in its education model, which fosters talent from school through to employment. Additionally, the company’s funding for social and charitable initiatives has grown sevenfold in the past 10 years, with over RUB 25 billion committed between 2022 and 2023.
