Yara AGM approves dividend and buy-back program
May 11, 2011
Oslo (2011-05-11): Yara International ASA's Annual General Meeting yesterday approved a dividend of NOK 5.50 per share, cancelled repurchased shares and renewed the authorization of the Board of Directors to acquire own shares.
The dividend of NOK 5.50 per share will be paid on 23 May 2011 to shareholders as of 10 May 2011. The Yara share will be traded exclusive of dividend from 11 May 2011. American Depository Receipts (ADRs) will also be traded exclusive of dividend from 11 May 2011, and the dividend payment date for ADRs is 31 May 2011.
The Annual General Meeting resolved to cancel 750,000 repurchased shares and to redeem 425,759 shares from the Norwegian State. The number of shares in the company will consequently be reduced to 287,656,159.
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 share is unchanged in the event repurchased shares are cancelled.
The complete protocol from the Annual General Meeting will be available during the course of the day on Yara's website:
Thor Giæver, Investor Relations
Cellular (+47) 48 075 356
Asle Skredderberget, Media Relations
Cellular (+47) 41 44 36 10
Yara International ASA is the world's leading chemical company that converts energy, natural minerals and nitrogen from the air into essential products for farmers and industrial customers. As the number one global supplier of mineral fertilizers, we help provide food for a growing world population. Our industrial product portfolio includes environmental protection agents that prevent air pollution. Yara's global workforce of 7,300 employees represents the great diversity and knowledge that enables Yara to remain a leading performer in the industry.
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.