Business
Vitafoam Approves N260.51m Dividend Payment
- Vitafoam Approves N260.51m Dividend Payment
Vitafoam Nigeria Plc has approved a dividend of N260.51 million for the 2018 financial year.
The amount approved by shareholders translates to 25 kobo per ordinary share.
The board of shareholders also approved a bonus of one share for five already held.
Dr. Bamidele Makanjuola, the Chairman, Vitafoam Nigeria, explained that the firm’s turnover rose from N15.92 billion in 2017 to N17.61 billion in 2018, while profit after tax jumped from N190.54 million to N486.10 million in 2018.
Makanjuola assured the shareholders that more comfort zones would be established in the country as soon as cash flow increased.