PhosAgro to earmark 30% of IFRS net profit from Apr-Dec for dividends
MOSCOW. June 28 (Interfax) - OJSC PhosAgro plans to pay dividends for April-December of this year using no less than 30% of IFRS net profit for this period, the company said in an investment memorandum for its IPO.
The company's dividend policy foresees earmarking 20%-40% of net profit for dividends.
The company paid 26 billion rubles to its shareholders for 2010 and, for the first quarter of 2011, 3.85 billion rubles.
According to an investment memorandum, the main shareholder in the company is Andrei Guryev and members of his family with 81.23% of common shares, the rector of St. Petersburg State Mining University Vladimir Litvinenko - 10.03%, former PhosAgro head Igor Antoshin - 7.03%, the company's general director Maxim Volkov - 1%, several employees and former workers of the group - 0.7% of common shares. In addition, Yevgeniya Guryeva owns 100% of the A2 preferred shares in the company. The company is converting the prefs into common shares. This process should be finished in September.