Shareholders of VFD Group Plc have approved a dividend payout of 25 kobo per share for the 2025 financial year, reaffirming confidence in the company’s long-term growth strategy despite prevailing economic pressures.
The approval was granted during the company’s 10th Annual General Meeting (AGM) held in Lagos, where investors also endorsed plans to accelerate expansion across the Group’s five strategic business verticals.
Management disclosed that proceeds from the company’s recent capital raise would be channelled into strengthening operations in market infrastructure, capital market activities, financial services, real estate and hospitality, as well as retail technology. According to the company, the investment drive is aimed at consolidating its competitive advantage and positioning its subsidiaries among the leading players in their respective sectors.
Speaking at the AGM, Group Managing Director and Chief Executive Officer, Nonso Okpala, said the fresh capital would not only support expansion within Nigeria but also facilitate the Group’s entry into other African markets.
He explained that VFD Group intends to replicate the business successes it has achieved locally across the continent while maintaining value creation for shareholders.
“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.
He further noted that the Group remains committed to delivering shareholder returns despite rising operational costs and broader macroeconomic challenges affecting businesses across the country.
Chairman of the Board, Olatunde Busari, emphasised the importance of strong corporate governance practices in sustaining investor confidence and ensuring long-term stability.
According to him, transparency, accountability, and effective risk management remain central to the company’s operational framework as it pursues aggressive growth objectives.
Also speaking, Executive Director, Finance and Investor Relations, Folajimi Adeleye, stated that the company’s expansion plans are being guided by clearly identified market opportunities and long-term profitability considerations, rather than expansion for expansion’s sake.
The AGM, which marked a decade of the company’s annual shareholder meetings, also saw the approval of other routine resolutions aligned with the Group’s strategic direction and future growth ambitions.
Industry analysts say VFD Group’s renewed investment push signals growing confidence among diversified investment firms seeking to capitalise on opportunities across emerging sectors of the Nigerian economy.