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CVR Partners, LP (NYSE:UAN), a fertilizer company with a market capitalization of $869 million and strong financial health according to InvestingPro, announced that its unitholders have approved the 2025 Long-Term Incentive Plan during a special meeting held on Thursday. The plan, which was initially approved by the Board of Directors on April 21, 2025, allows the company to grant various unit-based awards, such as options and appreciation rights, with a maximum of 550,000 units available for issuance.
The 2025 Plan includes key provisions such as a minimum vesting period of one year for awards, restrictions on granting options below market value, and prohibitions on repricing options without unitholder approval. Additionally, the plan does not include an automatic replenishment of units or automatic grants to participants. The company, which offers an attractive 11% dividend yield and trades at a P/E ratio of 11.6, has seen its stock price approach its 52-week high of $84.96.
Unitholders also ratified the appointment of Grant Thornton LLP as the independent public accounting firm for the fiscal year 2025. The voting results showed strong support for both proposals, with 5,205,715 votes in favor of the 2025 Plan and 8,345,401 votes for the auditor ratification.
The information is based on a press release statement filed with the U.S. Securities and Exchange Commission.
In other recent news, CVR Partners reported a net income of $27 million for the first quarter of 2025, despite an earnings per share (EPS) of -$0.58, which fell short of market expectations. The company achieved net sales of $143 million and declared a distribution of $2.26 per common unit. CVR Partners plans significant capital spending for 2025, estimating total capital expenditures between $50 million and $60 million. The firm maintains a strong position in the domestic nitrogen fertilizer market, supported by tight inventories and solid demand. Looking ahead, CVR Partners projects ammonia utilization rates of 93-97% for the second quarter of 2025 and anticipates direct operating expenses between $57 million and $62 million. The company is also focusing on enhancing reliability and performance across its facilities. CEO Mark Pytosh noted the expected volatility in the business environment, highlighting the challenges and opportunities the company faces in 2025.
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