VFD Group Approves N0.25 Dividend, Shares Rally 10%

VFD Group Plc experienced a 10% increase in share price following the approval of a N0.25 dividend per 50 kobo ordinary share at its 10th Annual General Meeting held in Lagos. This approval translates to an aggregate payout of approximately N3.2 billion, representing a 32.2% payout ratio.

Nonso Okpala, the Group Managing Director and Chief Executive Officer, attributed the positive market reaction to a disciplined execution strategy and a commitment to rewarding shareholders. The company raised N50.6 billion through a rights issue, which is expected to support its strategic execution across five major verticals: market infrastructure, capital market operations, real estate, hospitality, and financial services.

Chairman Olatund Busari emphasized the importance of risk management as the group expands its presence beyond Nigeria. Folajimi Adeley, Executive Director of Finance and Investor Relations, noted the strength of VFD Group's diversified portfolio, which allows the company to benefit from various business cycles across sectors.