2023: Vitafoam to pay shareholders N1.95 billion dividends

For the fiscal year that ended in 2023, shareholders of Vitafoam Nigeria Plc will receive a final dividend of N1.56 per Ordinary Share of 50 kobo each, for a total dividend of N1.95 billion.

THE MATRIX was able to collect this information via the company’s corporate action statement to the Nigerian Exchange Limited (NGX).

The dividend is contingent upon shareholder acceptance, the company states, and shareholders whose names are in the Register of Members as of Monday, February 12, 2024, at the close of business will pay the relevant withholding tax

According to the statement signed by the company, on Thursday 7th March 2024, dividends will be paid electronically to shareholders whose names appear on the Register of Members as of February 12th, 2024, and who have completed the e-dividend registration and mandated the Registrars to pay their dividends directly into their Bank accounts.

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Shareholders who are yet to complete the e-dividend registration are advised to download the Registrar’s E-Dividend Mandate Activation Form, which is also available on the website of the Registrars.

Vitafoam Nigeria Plc has grown its revenue to N52.9 billion in 2023, from N46. 3 billion in 2022, an increase of 14% despite the headwinds that characterized the operating environment.

According to the company. In line with its policy of shareholder value, the board has proposed a dividend of N1.95 billion which translates to N1.56 kobo per Ordinary Share of 50 kobo each for the shareholders’ approval at the Annual General Meeting (AGM) in Lagos.

The Company’s total assets in the review period also rose to N49.6 billion from N39.4 billion in 2022