Amman: The General Assembly of the Jordan Phosphate Mines Company (JPMC) has announced a capital increase to JD500 million and approved a substantial dividend payout during its 72nd Ordinary General Meeting. This meeting, conducted via video conference and led by Board Chair Mohammad Thneibat, saw shareholders endorsing the Board's recommendation to distribute cash dividends at a rate of 170% of the nominal share value.
According to Jordan News Agency, the assembly also ratified the appointment of Ibrahim Jazi to the Board of Directors to complete the current board's term. In an extraordinary session, the assembly approved capitalizing JD200 million from retained earnings to facilitate the capital increase, distributing the increase as bonus shares to shareholders.
Thneibat highlighted the company's strategic initiatives, which include development programs focusing on expanded capital expenditure and workforce training. Despite global market challenges, JPMC achieved a net profit after tax of approximately JD603 million in 2025, showcasing strong financial health.
JPMC's shareholders' equity increased by more than JD194 million compared to 2024, while total assets rose by JD234 million to JD2.367 billion at the end of 2025. Thneibat noted the company's significant contribution to Jordan's national economy, with consolidated export sales reaching $2.214 billion and domestic sales totaling $467 million.
Further, JPMC contributed JD227 million directly to public revenues through various taxes and fees, with indirect contributions reaching JD251 million. The company's investment plans include several projects aimed at boosting revenues and competitiveness, such as feasibility studies for phosphoric acid plants and a joint project with the Arab Potash Company.
In Aqaba, JPMC is constructing a phosphate feed additive plant expected to create 100 jobs, alongside other expansion projects designed to increase production capacity and sales. A $192 million expansion of the Indian-Jordanian Chemicals Company has been awarded to China's ECEC, with completion expected by late 2029.
Thneibat emphasized that these initiatives aim to increase annual sales by nearly $1 billion and profits by about JD200 million, creating approximately 1,000 jobs and enhancing public finances through higher tax revenues. The projects are also expected to support Jordan's trade balance and address structural economic challenges.