Yara AGM approves dividend and buy-back program
May 11, 2007
The dividend of NOK 2.50 per share will be paid out on 23 May 2007 to shareholders as of 10 May. The Yara share will be traded exclusive of dividend from 11 May. American Depository Receipts (ADRs) will also be traded exclusive of dividend from 11 May, and the payment date for ADRs is 31 May.
The Annual General Meeting resolved to cancel approximately 7.3 million repurchased shares and to redeem approximately 4.1 million shares from the Norwegian State. The number of shares in the company will consequently be reduced to 291,575,357.
The Annual General Meeting resolved to renew the authorization of the Board of Directors to acquire the company's own shares. The Board is thereby given authorization to acquire up to 5 percent of Yara's shares within the next 12 months. Yara has renewed the agreement with the Norwegian State according to which the State's shares will be redeemed on a pro-rata basis to ensure that the State's ownership is unchanged in the event repurchased shares are cancelled.
The complete protocol from the Annual General Meeting will be made available before the end of 11 May on Yara's website
Torgeir Kvidal, Investor Relations
Telephone (+47) 24 15 72 95
Cellular (+47) 91 339 832
Hamed Brodersen, Media Relations
Cellular (+47) 40 468 110
Yara International ASA is a leading chemical company that converts energy and nitrogen from the air into essential products for farmers and industrial customers. As the number one global supplier of mineral fertilizers and agronomic solutions, we help provide food for a growing world population. Our industrial product portfolio includes environmental protection agents that safeguard air and water purity and preserve food quality. Yara's global workforce of 7000 employees represents great diversity and talent enabling Yara to remain a leading performer in its industry.www.yara.com