Shareholders of VFD Group Plc have approved a dividend payout of N3.17bn at the company’s 9th Annual General Meeting, held virtually in Lagos on Thursday.
The approved dividend translates to N2.50 per share. In addition, shareholders endorsed a five-for-one bonus share issuance, a move the company says reflects its commitment to long-term shareholder value and investor confidence.
The Group also announced a profit of N11.3bn for the 2024 financial year, marking a strong recovery from its performance in 2023. Unaudited results for the first quarter of 2025 showed a profit of N4bn, representing a N1bn increase from the same period last year.
The Chairman of the Board, Olatunde Busari, said the turnaround was driven by stronger governance and disciplined execution. He stated,
“The turnaround of 2024 is the result of sharper risk controls and tighter portfolio alignment by the management and team. Evidently, we are back and better positioned for growth.”
He added that the Group had sustained transparency and accountability despite economic headwinds in 2023.
Speaking on performance and regional expansion, the Group Managing Director, Nonso Okpala, said, “We are scaling our ecosystem with new investments across financial services and real estate, from Nigeria to Ghana and South Africa. South Africa is key, but not our only focus.”
Also, the Executive Director, Finance, Risk and Compliance, John Okonkwo, explained that the profit was driven by de-risked exposure, stronger compliance, and an optimised investment mix.
He noted that in the first quarter of 2025, the company recorded growth in recurring income and trading volumes, with higher investor engagement and improved system resilience.
The Group said it is exploring fintech infrastructure, capital market platforms, and real estate opportunities across West and East Africa, leveraging its strong balance sheet to lead and co-invest across the continent.
