COMFORT EKELEME, Business Editor
Shareholders of VFD Group Plc has approved a dividend payment of N2.50 per share, amounting to a total payout of N3.17 billion.
The company last week held its 9th Annual General Meeting (AGM) virtually.
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.
Also, 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 shareholders gave the approval at the company’s 9th Annual General Meeting (AGM) held virtually.
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, Mr. Olatunde Busari, attributed the rebound to stronger governance and disciplined execution.
He 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,” he said.
He further emphasized the Group’s governance foundation, saying “Over 15 years, we have cultivated trusted relationships with shareholders, regulators, and partners.
“Even in tough cycles like 2023, we upheld boardroom accountability and transparency. Governance brings clarity, and clarity fuels trust which this agm represents,” he said.
Group Managing Director, Mr. 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.
“South Africa is key, but not our only focus. We are actively exploring fintech infrastructure, capital market platforms, and real estate across West and East Africa.
“Our strong balance sheet enables us to lead deals and co-invest across the continent,” he added.
Executive Director, Finance, Risk & Compliance, Mr. John Okonkwo, elaborated on the Group’s internal recalibration.
He said, “We closed FY 2024 with ₦11.3 billion in profit, a full recovery driven by de-risked exposure, stronger compliance frameworks, and an optimised investment mix.
“In Q1 2025, we are seeing growth in recurring income and trading volumes, with higher investor engagement and stronger system resilience,” he said.
On forward strategy, he added: “We have expanded our risk lens, upgraded scenario planning, and tightened hedging mechanisms to ensure this momentum is not only sustained, but managed proactively.
