Shareholders of leading investment firm VFD Group Plc have heartily approved a substantial total dividend payout of N13.27 billion, translating to N2.50 per share. This significant return is further amplified by the approval of a five-for-one bonus share issuance, underscoring VFD Group's unwavering commitment to delivering long-term value to its investors.
At the company's 9th annual general meeting, conducted virtually, the Chairman of VFD Group, Olatunde Busari, presented a robust review of the Group's performance in the 2024 financial year. Despite navigating a challenging operating environment, VFD Group reported an impressive profit of N11.3 billion. This positive trajectory has continued into the current year, with the Group posting an unaudited profit of N4 billion for the first quarter of 2025, marking a significant N1 billion increase compared to the same period last year.
Mr. Busari attributed this notable improvement in performance to the Group's disciplined execution strategies and a steadfast commitment to enhanced governance practices. He proudly highlighted the Group's consistent track record of rewarding shareholders since its inaugural dividend payout in 2016.
Strategic Realignment Drives Recovery and Growth
Despite encountering headwinds in 2023, VFD Group's strong rebound in 2024 reflects a strategic sharpening of focus on risk controls and a more tightly aligned investment portfolio. This proactive approach has effectively positioned the Group for sustained long-term growth.
Mr. Busari also emphasized the paramount importance of robust governance within the organization. He highlighted the trusted relationships VFD Group has cultivated over the past 15 years with its shareholders, regulatory bodies, and strategic partners. This unwavering focus on transparency and accountability has served as a critical bedrock for the Group's sustained momentum, even when navigating challenging economic periods such as 2023. He reiterated, "Over the past 15 years, we have built trusted relationships with our shareholders, regulators, and partners. Even during challenging periods like 2023, we upheld boardroom accountability and transparency, reinforcing the trust that drives our long-term strategy."
Expanding Footprint and Diversifying Investments
The Group Managing Director of VFD Group, Nonso Okpala, further emphasized the Group's strong momentum, noting that the impressive rebound in 2024 was propelled by swift and collaborative decision-making processes, coupled with a clear and ambitious growth strategy.
Beyond the significant N11 billion profit, Mr. Okpala highlighted the Group's ongoing efforts to scale its ecosystem through strategic new investments across key sectors including financial services, real estate, and technology. This expansion is extending VFD Group's operational footprint beyond Nigeria, with a growing presence in Ghana and South Africa.
While acknowledging the strategic importance of the South African market, Mr. Okpala clarified that it is not the sole focus of the Group's expansion efforts. VFD Group is actively exploring promising opportunities in fintech, capital market platforms, and real estate ventures across both West and East Africa. He further stated that the company's strong and healthy balance sheet empowers it to take the lead in significant deals and co-invest strategically across the African continent.
Strengthening Financial Foundation and Proactive Risk Management
John Okonkwo, the Executive Director for Finance, Risk, and Compliance at VFD Group, provided insights into the Group's internal recalibration efforts. He highlighted the implementation of a stronger compliance framework and the development of a more diversified investment mix.
Mr. Okonkwo reported that VFD Group concluded the FY 2024 with a robust profit of N11.3 billion, marking a complete recovery characterized by de-risked exposures and optimized portfolio strategies. He further noted the strong performance in the first quarter of 2025, which has already demonstrated significant gains in recurring income and trading volumes, supported by strong investor engagement.
Looking ahead, Mr. Okonkwo emphasized the Group's commitment to proactive risk management. He explained that VFD Group has broadened its risk assessment parameters, upgraded its scenario planning capabilities, and implemented tighter hedging mechanisms to ensure the sustainability of its growth trajectory.