Fertiglobe AGM approves H2 2022 dividend of $700mln

Fertiglobe AGM approves H2 2022 dividend of $700mln

- Board highlights robust 2022 earnings and cash generation supporting attractive shareholder returns

- AGM approves cash dividends for H2 2022, amounting to $700 million, or 31 fils per share, and $1.45 billion for 2022, positioning Fertiglobe as one of the highest dividend payers in the industry by yield

- In 2022, Fertiglobe’s delivered revenues of $5.0 billion, adj. EBITDA of $2.5 billion and adj. net profit of $1.3 billion

Abu Dhabi, UAE – Fertiglobe (ADX: FERTIGLB), the strategic partnership between ADNOC and OCI Global, the world’s largest seaborne exporter of urea and ammonia combined, the largest nitrogen fertilizer producer in the Middle East and North Africa (“MENA”) region, and an early mover in sustainable ammonia, held its Annual General Meeting (“AGM”) on Tuesday, April 11, 2023. The AGM agenda included the approval of the company’s audited accounts for 2022 as well as cash dividend for H2 2022 (record date: 21 April 2023), amounting to $700 million, or 31 fils per share.

Fertiglobe’s dividends for 2022 were backed by solid financial performance, driven by competitive positioning on the global cost curve and strong free cash flow conversion capacity. Robust earnings and cash generation during the year resulted in a net cash position of $287