Vitafoam Approves N260.51m Dividend Payment

Vitafoam Plc
  • 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.

About the Author

Samed Olukoya
CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York based Talk Markets and Investing.com, with over a decade long experience in the global financial market. Contact Samed on Twitter: @sameolukoya; Email: [email protected]; Tel: +2347065163489.

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