Yara AGM approves dividend and buy-back program
May 20, 2005
The NOK 2.25 dividend per share will be paid on 3 June 2005 to shareholders as of 19 May. The Yara share will be traded ex-dividend from 20 May. American Depository Receipts (ADRs) have been traded ex-dividend since 17 May, and the payment date for ADRs is 10 June.
The General Meeting cancelled the approximately 3 million shares already bought back and redeemed approximately 1.7 million shares previously owned by the Norwegian State. After the cancellation/redemption Yara now has 314,737,356 shares.
Finally, the General Meeting replaced the previous buy-back program with a new one authorizing the Board to acquire up to 5% of Yara's shares within the next 12 months. Shares may be purchased within a price range of NOK 10 to NOK 300. Yara has entered into a new agreement with the Norwegian State to the effect that the State's shares will be redeemed on a pro-rata basis so that the State's ownership is unchanged in the event of a cancellation of the shares bought back.
The complete protocol from the Annual General Meeting will be made available before the end of 20 May on Yara's website
Egil Hogna, Investor Relations
Telephone (+47) 24 15 71 66
Cellular (+47) 90 187 865
Arne Cartridge, Media Relations
Telephone (+47) 24 15 73 01
Cellular (+47) 47 900 900
Yara International ASA is the world's leading supplier of mineral fertilizers with particular strength in nitrogen-based fertilizers. Yara has a local presence in 50 countries worldwide. Yara sells more than 20 million tonnes of mineral fertilizers in more than 120 countries. Yara offers fertilizers meeting the nutrient needs of local crops supported by agronomic advice to make farming more profitable and agriculture more sustainable. Yara has a strong position in industrial markets in Europe as a supplier of nitrogen-based chemicals and is the leading supplier of liquid CO2.