Norway | Events and Initiatives

Yara approves dividend and share buy-back program and elects new chairperson

The Yara International ASA Annual General Meeting yesterday approved a dividend of NOK 10.00 per share and a new Power of attorney to the Board regarding acquisition of own shares.

5/26/2014

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The Yara International ASA Annual General Meeting yesterday approved a dividend of NOK 10.00 per share and a new Power of attorney to the Board regarding acquisition of own shares. The new Board elected Leif Teksum as its new chairperson.

The dividend of NOK 10.00 per share will be paid on 15 May 2014 to shareholders as of 5 May 2014, and the Yara share will be traded ex dividend from 6 May 2014. American Depository Receipts (ADRs) will also be traded ex dividend from 6 May 2014, with a dividend payment date of 22 May 2014.

Hilde Merete Aasheim and Geir Isaksen were re-elected as Board members and Leif Teksum, Hilde Bakken and John Thuestad were elected as new Board members, all for a period of two years. After the general meeting, the Board elected Leif Teksum as its new chairperson, and Hilde Merete Aasheim as vice chair.

The Annual General Meeting approved the cancellation of 1,450,000 of the Company's own shares and the redemption of 823,135 shares owned by the Norwegian State. The number of shares in the company will consequently be reduced to 276,227,775.

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 will renew 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.