Fertiglobe, the largest producer of nitrogen fertilizers in the Middle East and North Africa region, said it will seek the approval of the company’s shareholders to obtain a sharing repurchase program.
The company proposed to 2.5 percent of its shares issued through the repurchase program.
Fertiglobe, which is the low carbonoc carbon -carbon ammonia platform, will also see the shareholder wink for a $ 125 million dividend payment by 2024.
The additional payment of proposed for $ 125 million (5.5 Fils per share) will carry the company’s total dividends by 2024 to $ 275 million (12.2 Fils/Action), the company said.
The company’s annual general meeting (AGM) is scheduled for Wednesday, April 9.
Fertiglobe said the repurchase proposal is reflected in the confidence in its long -term growth strategy and commitment to offer sustainable value to shareholders.
The company said it would be the repurchase of shares through open market transactions in accordance with the approval of the Shareholders of the ADX regulations.
The amount of actions that are recommended will depend on market conditions and other factors, he said.
