Vitafoam Nigeria Plc Approves N3.75 Billion Dividend Payout

At its 64th Annual General Meeting held in Lagos, shareholders of Vitafoam Nigeria Plc approved a final dividend payout of N3.75 billion, translating to N3.00 per ordinary share, subject to applicable withholding tax. Additionally, the company proposed converting N125 million of its retained earnings into bonus shares, which will be distributed to existing shareholders at a rate of one new ordinary share for every five shares held.

This bonus issuance accompanies the dividend payout, underscoring Vitafoam's commitment to creating and sustaining value for its shareholders. The shareholders also approved an increase in the company's issued share capital from N625.42 million to N750.1 million and amendments to the company's memorandum and articles of association to reflect the updated capital structure.

Vitafoam's strong performance in 2025, with a revenue of N111.3 billion and a pretax profit of N21.4 billion, contributed to the positive sentiment among investors, as the stock achieved a 300% return year-to-date.