Shareholders of VFD Group Plc., a proprietary investment firm building Africa’s most diverse business ecosystem, have approved a dividend payment of ₦2.50 per share, amounting to a total payout of ₦3.17 billion.
This is alongside a bonus share issuance of five new shares for every one held (5-for-1), a bold move underscoring the group’s commitment to long-term shareholder value and investor confidence.
The decisions were taken during the group’s 9th Annual General Meeting held virtually on Thursday.
The meeting brought together shareholders and board directors to reflect on the group’s 2024 performance and lay the groundwork for its ambitious continental expansion agenda.
VFD Group declared a ₦11.3 billion profit in FY 2024, marking a full turnaround from its 2023 performance. The company also shared its unaudited Q1 2025 results, which recorded ₦4 billion in profit, a ₦1 billion increase over Q1 2024.
Chairman of the board, Olatunde Busari SAN, attributed the rebound to stronger governance and disciplined execution.
Busari said, “This AGM is a significant one. Since our first dividend in 2016, VFD Group has consistently rewarded shareholders. 2023 was an outlier on that trajectory however the company has resumed paying dividend and rewarding its shareholders. The turnaround of 2024 is the result of sharper risk controls and tighter portfolio alignment by the Management and team and evidently, we are back and better positioned for growth.”
Group Managing Director, Nonso Okpala, speaking on the firm’s momentum on performance and cross-border growth, said, “Our 2024 rebound was driven by swift, collaborative decisions and clear ambition. Beyond our ₦11 billion profit, Q1 2025 saw unaudited profits hit ₦4 billion already. We are scaling our ecosystem with new investments across financial services and real estate, from Nigeria to Ghana and South Africa.”
