Shareholders of Vitafoam Nigeria Plc will receive a final dividend of N1.56 per Ordinary Share of 50 kobo each for the financial year ended 2023 which translates to a total dividend of N1.95 billion.
This was contained in the company’s corporate action announcement to the Nigerian Exchange Limited (NGX) and obtained by the Nairametrics.
Subject to shareholders approval:
According to the company, the dividend is subject to shareholders’ approval and appropriate withholding tax will be paid by shareholders whose names appear in the Register of Members as at the close of business on Monday 12th February 2024.
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.
Advice to shareholders:
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.
Shareholders with dividend warrants and share certificates that have remained unclaimed, or are yet to be presented for payment or returned for validation are also advised to complete the e-dividend registration or contact the Registrar.
What you should know:
Vita foam 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.