- Fertiglobe proposes a share buyback for up to 2.5% of the company’s shares, subject to shareholder and regulatory approvals
- Share buyback reinforces Fertiglobe’s commitment to growing shareholder value and presents a strategic opportunity given the current attractive valuation
- Shareholders will also vote to approve the final proposed 2024 dividends of $125 million (5.5 fils/share) at the AGM scheduled on April 9, 2025, bringing total 2024 dividends to $275 million (12.2 fils/share), implying an industry-leading dividend yield of 5.7%.
Abu Dhabi, UAE – 8 April 2025: Fertiglobe (the “Company”) (ADX: FERTIGLB), the world’s largest seaborne exporter of urea and ammonia combined, the largest nitrogen fertilizer producer in the Middle East and North Africa region, and ADNOC’s low-carbon ammonia platform, has updated the agenda for its upcoming Annual General Meeting (AGM) on 9 April 2025 to seek shareholder approval for the Company’s repurchase of up to 2.5% of its issued shares via a share buyback in addition to the distribution of the proposed dividends of $125 million (5.5 fils per share), taking 2024 dividends to a total of $275 million (12.2 fils/share). The proposal reflects Fertiglobe’s confidence in its long-term growth strategy and commitment to delivering sustainable value to shareholders, backed by the company’s strategic initiatives. Upon shareholder and regulatory approvals, the company would conduct the share buyback through open-market transactions in accordance with ADX regulations, with the quantity of shares repurchased dependent on market conditions and other factors.
As previously announced, shareholders will also vote on key resolutions, including the approval of the H2 2024 dividend of $125 million (5.5 fils per share), bringing 2024 total dividends to $275 million and total dividends since IPO to $2.5 billion.
For further details on the AGM agenda and resolutions, shareholders can refer to the official meeting notice available on the company’s website and the Abu Dhabi Securities Exchange (ADX) platform.
The share buyback, if approved, will be overseen and managed by the Board of Directors, and may be modified, or discontinued at any time, with the 2.5% shares constituting the approved ceiling for the repurchase.
Fertiglobe is in a unique position to reinforce its industry leading role and its place as an early mover in sustainable ammonia.
General Assembly Approval | 9 April 2025 |
Last entitlement date (last day to purchase) | 17 April 2025 |
Ex-dividend date | 18 April 2025 |
Record date | 21 April 2025 |
Dividend payment | Within 30 days of the date of the Annual General Assembly |
About Fertiglobe
Fertiglobe is the world’s largest seaborne exporter of urea and ammonia combined, and an early mover in sustainable ammonia. Fertiglobe’s production capacity comprises of 6.6 million tons of urea and merchant ammonia, produced at four subsidiaries in the UAE, Egypt and Algeria, making it the largest producer of nitrogen fertilizers in the Middle East and North Africa (MENA), and benefits from direct access to six key ports and distribution hubs on the Mediterranean Sea, Red Sea, and the Arab Gulf. Headquartered in Abu Dhabi and incorporated in Abu Dhabi Global Market (ADGM), Fertiglobe employs more than 2,700 employees. Fertiglobe is listed on the Abu Dhabi Securities Exchange (“ADX”) under the symbol “FERTIGLB” and ISIN “AEF000901015”. To find out more, visit: www.fertiglobe.com
For additional information, contact:
Fertiglobe Investor Relations
Rita Guindy, Director
Emails:
For additional information on Fertiglobe: fertiglobe.com
