Weak rouble fertilizes the dividends of "Fosagro".

This year the company could pay shareholders more than 14 billion roubles.

On  the results of 2015 "Fosagro" may pay record dividends - more than 14 billion roubles. Until now, the other players in the market of mineral fertilizers refused to pay on the background of negative financial results and investment in capacity expansion. "Fosagro" refers to the growth in revenues from exports due to the devaluation of the rouble.

The Board of Directors of "Fosagro" recommended spending 7.3 billion roubles (57 roubles per share) the dividend from retained earnings of previous years, the company informs. Shareholders will decide on this in early October. In June "Fosagro" approved the payment of dividends in the amount of 6.2 billion roubles from retained earnings of previous years. Thus, in 2015 paid dividends could rise twice, reaching more than 14 billion against 7.7 billion roubles in 2014. In 2013 "Fosagro" has paid 4.5 billion roubles. The increase in payments to shareholders is related to changes in the dividend policy of the company. In April it decided to increase the payment of the net profit under IFRS from 20-40% to 30-50%.