Support The Moscow Times!

Phosagro Paying Dividend

Phosagro will support the price of its shares by paying a nine-month dividend rather than through a buyback, chief executive Maxim Volkov said.

"We don't see any sense in a share buyback" because it will decrease liquidity, Volkov said late last week. Phosagro's board will discuss the issue in a meeting Oct. 26, the company said in its regulatory filing.

Phosagro raised $538 million by selling about 10.3 percent of its stock in an initial public offering in July. Volkov said Phosagro is nearly qualified to join the RTS and MICEX indexes and will apply for inclusion soon. The company is also considering the MSCI Index, he said.

(Bloomberg)

… we have a small favor to ask.

As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just 2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

Continue

Read more