The shareholders of VFD Group Plc have sanctioned a dividend distribution of N3.17 billion during the firm’s 9th Annual General Meeting, which was conducted online in Lagos on Thursday.
The sanctioned dividend amounts to N2.50 for each share. Furthermore, the shareholders agreed to a five-to-one stock dividend distribution, which the firm states exemplifies their dedication to sustaining shareholder value and fostering investor trust over the long term.
The group reported a profit of N11.3 billion for the fiscal year 2024, indicating a robust rebound from its previous year’s performance. Preliminary figures for the initial quarter of 2025 revealed a profit totaling N4 billion, which reflects an improvement of N1 billion compared to the corresponding timeframe in the prior year.
Olatunde Busari, the Chairman of the Board, attributed the improvement to enhanced governance and meticulous implementation. He mentioned,
The transformation in 2024 stems from improved risk control measures and more focused alignment within our investment portfolios by both the management and the team. Clearly, we have regained our footing and are now better prepared for expansion.
He mentioned that the Group maintained transparency and accountability throughout 2023, even amid challenging economic conditions.
Regarding performance and geographical growth, the Group Managing Director, Nonso Okpala, stated, “Our strategy involves expanding our platform through fresh investments in both financial services and real estate sectors, extending from Nigeria into Ghana and South Africa. While South Africa holds significant importance, it isn’t our sole area of concentration.”
Additionally, John Okonkwo, who serves as the Executive Director of Finance, Risk, and Compliance, stated that the profit was fueled by reduced risk exposure, enhanced compliance measures, and a refined investment portfolio.
He observed that during the initial three months of 2025, the firm saw an increase in recurrent revenue along with greater trade activity levels, accompanied by heightened investor participation and enhanced platform stability.
The company mentioned it is looking into fintech infrastructures, capital markets platforms, and real estate ventures throughout both West and East Africa, utilizing its robust financial position to spearhead and jointly invest across the region.
Provided by SyndiGate Media Inc.
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