Vitafoam shareholders endorse N3.75 bn dividend, bonus shares
Vitafoam Nigeria Shareholders Approve N3.75 Billion Dividend and Bonus Shares
By Peter Egwuatu
LAGOS — Shareholders of Vitafoam Nigeria Plc approved a capital injection of N125 million through a bonus share issuance and endorsed a dividend payout of N3.75 billion during the company’s 64th Annual General Meeting (AGM) held in Lagos.
At the meeting, shareholders authorized the capitalization of N125,084,406 from retained earnings for the issuance of bonus shares. The new shares will be distributed at a ratio of one bonus share for every five shares held by shareholders listed on the registry as of February 6, 2026.
In addition, attendees approved a dividend of N3.00 per ordinary share of 50 kobo, resulting in a total dividend payout of approximately N3.75 billion, pending applicable withholding tax. The meeting also ratified an increase in the company’s issued share capital from N625.42 million to N750.51 million, facilitated by the creation of 250,168,812 additional ordinary shares of 50 kobo each. These new shares will hold the same rights as existing shares.
To reflect the new capital structure, amendments to the company’s Memorandum and Articles of Association were approved, raising the issued share capital to N750,506,438 divided into 1,501,012,876 ordinary shares, up from 1,250,844,064 shares.
The approvals follow a strong financial performance in the 2025 fiscal year. Vitafoam reported a turnover of N111.3 billion, marking a 34.7% increase from N82.6 billion in 2024. Profit before tax increased dramatically to N21.3 billion, compared to N1.1 billion, while profit after tax rose to N14.5 billion from N952 million.
The Chairman of Vitafoam described the financial results as a significant turning point for the company, emphasizing that this performance was driven by enhanced production efficiency, improved distribution, and disciplined cost management.
The Group Managing Director noted that the results highlight the brand’s resilience and the success of its strategic adjustments. He emphasized that the Group’s financial performance reflects the underlying strength of Vitafoam, strong customer loyalty, and effective management strategies.
