Vitafoam declares N3.75bn dividend after revenue surge

Shareholders of Vitafoam Nigeria Plc have authorised a N125 m capital injection by a bonus share subject and endorsed a N3.75 bn dividend payout.

This signalled robust investor confidence within the firm’s bettering monetary efficiency.

The approvals had been granted on the firm’s Annual Basic Assembly, the place shareholders authorised the capitalisation of N125,084,406 from retained earnings to subject bonus shares to current traders.

The bonus shares can be distributed primarily based on one new peculiar share for each 5 shares held by shareholders whose names appeared within the register of members on the shut of enterprise on 6 February 2026.

Buyers on the firm’s sixty fourth AGM, held in Lagos, additionally authorised a dividend of N3.00 per peculiar share of fifty kobo, translating into a complete payout of roughly N3.75 bn, topic to relevant withholding tax.

As a part of the recapitalisation programme, shareholders additional endorsed a rise within the firm’s issued share capital from N625.42 million to N750.51 m by the creation of 250,168,812 further peculiar shares of fifty kobo every, which is able to rank pari passu with current shares.

Consequently, amendments had been authorised to the corporate’s Memorandum and Articles of Affiliation to replicate the brand new capital construction, elevating the issued share capital to N750,506,438 divided into 1,501,012,876 peculiar shares of fifty kobo every, up from 1,250,844,064 shares beforehand.

The group recorded turnover of N111.3 bn, representing a rise of about 34.7% from N82.6 bn in 2024.

Revenue earlier than tax surged to N21.3 bn from N1.1 bn, reflecting a rise of over 1,830%, whereas revenue after tax jumped to N14.5 bn from N952m, representing an increase of about 1,423%.

The chairman of the corporate, Mr Zakari Sada, described the outcomes as a serious turning level for the enterprise.

“This distinctive efficiency marks a serious milestone in our transformation journey. It was pushed by improved manufacturing effectivity, stronger distribution, and disciplined value administration,” he stated.

The Group Managing Director, Mr Taiwo Adeniyi, stated the corporate’s outcomes mirrored the resilience of the model and the effectiveness of its strategic changes.

“General, the Group’s monetary efficiency underscores the underlying energy of our model, the loyalty of our clients, and the effectiveness of the strategic changes applied,” he stated.