VFD Shareholders Approve 25 Kobo Dividend, Back Expansion Plans

Shareholders of VFD Group Plc approved a dividend of 25 kobo per share for the financial year ended December 31, 2025, and endorsed the company’s expansion strategy across its five core business verticals at the group’s 10th Annual General Meeting (AGM) in Lagos.

The resolutions passed at the AGM also supported plans to deploy proceeds from the company’s recent capital raise into market infrastructure, capital market operations, real estate and hospitality, financial services, and retail technology. Management said the funds will strengthen the Group’s market positions and drive its ambition to become a top-five player in those sectors.

Group Managing Director and Chief Executive Officer Nonso Okpala said the capital raise will underpin strategic expansion within Nigeria and into other African markets, where the Group intends to replicate its local successes. He added that the company remains committed to rewarding shareholders despite challenging economic conditions and rising costs.

“Those funds are being deployed into these verticals to deepen our market positions and ensure that our businesses within those sectors become top-five players in the economy,” Okpala said.

Chairman Olatunde Busari emphasised the role of corporate governance, transparency and risk management in sustaining growth, noting the board’s focus on accountability to maintain investor confidence. Executive Director, Finance and Investor Relations Folajimi Adeleye said expansion decisions are driven by identifiable market opportunities rather than growth for its own sake.

The AGM marked the company’s 10th annual meeting and included shareholder approval of other routine resolutions supporting the Group’s strategic direction.

المصدر: Leadership (Nigeria)