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Tuesday, May 12, 2015

12/05/2015: Yara approves dividend and share buy-back program and elects new vice chair

The Yara International ASA Annual General Meeting yesterday approved a dividend of NOK 13.00 (US$1.74 at time of writing) per share and a new Power of attorney to the Board regarding acquisition of own shares. Maria Moræus Hanssen was elected as new Board member.

The dividend of NOK13.00 per share will be paid on 21 May 2015 to shareholders as of 11 May 2015, and the Yara share will be traded ex dividend from 12 May 2015. American Depository Receipts (ADRs) will also be traded ex dividend from 12 May 2015, with a dividend payment date of 29 May 2015.
   
http://yara.com/investor_relations/reports_presentations/
Image: Jeremy Segrott
Maria Moræus Hanssen was elected as new Board member for a period of one year. After the general meeting, the Board elected Ms Moræus Hanssen as its new vice chair.

The Annual General Meeting approved the cancellation of 730,000 of the Company's own shares and the redemption of 414,406 shares owned by the Norwegian State. The number of shares in the company will consequently be reduced to 275,083,369.

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 full minutes of the Annual General Meeting will be made available by the end of the day on Yara's website
HERE


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