Yara approves dividend and buy-back program and elects new Chairperson
May 11, 2012
Oslo (2012-05-11): Yara International ASA's Annual General Meeting yesterday approved a dividend of NOK 7.00 per share and a new Power of attorney to the Board regarding acquisition of own shares. The new Board elected Bernt Reitan as the new Chairperson.
The dividend of NOK 7.00 per share will be paid on 23 May 2012 to shareholders as of 10 May 2012. The Yara share will be traded ex dividend from 11 May 2012. American Depository Receipts (ADRs) will also be traded ex dividend from 11 May 2012, with a dividend payment date of 31 May 2012.
Bernt Reitan, Elisabeth Harstad and Hilde Merete Aasheim were re-elected as Board members and Juha Rantanen was elected as a new Board member, all for a period of two years. After the general meeting, the Board elected Bernt Reitan as its new Chairperson.
The Annual General Meeting approved the cancellation of 2,200,000 of the Company's own shares and the redemption of 1,248,895 shares owned by the Norwegian State. The number of shares in the company will consequently be reduced to 284,207,264.
The Annual General Meeting approved a new Power of attorney to the Board regarding acquisition of own shares. The Board is thereby given authorization to acquire up to 5 percent of Yara's shares before the next Annual General Meeting. Yara has renewed its 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 available during the course of the day on Yara's website:
Thor Giæver, Investor Relations
Telephone (+47) 24 15 72 95
Cellular (+47) 48 07 53 56
Esben Tuman, Media Relations
Cellular (+47) 90 50 84 00
Yara delivers solutions for sustainable agriculture and the environment. Our fertilizers and crop nutrition programs help produce the food required for the growing world population. Our industrial products and solutions reduce emissions, improve air quality and support safe and efficient operations. Founded in Norway in 1905, Yara has a worldwide presence with sales to 150 countries. Safety is always our top priority.
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.