Shareholders of VFD Group Plc have approved a total dividend payout of N13.27 billion, culminating in N2.50 per share, alongside a five-for-one bonus share issuance, reaffirming VFD’s commitment to long-term shareholder value.
VFD Group’s Chairman, Olatunde Busari, while reviewing its performance at the company’s virtual 9th yearly general meeting, said the Group reported a N11.3 billion profit for the 2024 financial year, amid a harsh operating environment.
The company also posted N4 billion in unaudited profit for Q1 2025, representing a N1 billion year-on-year increase.
Busari attributed the improved performance to disciplined execution and a commitment to stronger governance, noting that the Group has consistently rewarded shareholders since its first dividend in 2016.
Despite the setbacks of 2023, the rebound in 2024 reflects a sharper focus on risk controls and tighter portfolio alignment, positioning the Group for long-term growth.
He also emphasised the importance of robust governance, pointing out that over the past 15 years, the Group has built trusted relationships with shareholders, regulators and partners.
This focus on transparency and accountability has been a critical foundation for the Group’s sustained momentum, even through challenging periods like 2023.
“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.”
Group Managing Director, Nonso Okpala, emphasised the Group’s momentum, noting that the 2024 rebound was driven by swift, collaborative decision-making and a clear growth ambition.
He added that beyond the N11 billion profit, the firm is scaling its ecosystem with new investments in financial services, real estate, and technology, extending its footprint from Nigeria to Ghana and South Africa.
In addition, Okpala noted that while South Africa is critical, it is not the sole focus, as the Group is actively exploring fintech, capital market platforms, and real estate opportunities across West and East Africa.
He added that the company’s strong balance sheet enables it to lead deals and co-invest across the continent.
Executive Director for Finance, Risk, and Compliance, John Okonkwo, discussed the Group’s internal recalibration, highlighting a stronger compliance framework and a more diversified investment mix.
He stated that the Group closed FY 2024 with N11.3 billion in profit, a full recovery marked by de-risked exposures and optimised portfolio strategies. He added that Q1 2025 has already shown strong gains in recurring income and trading volumes, supported by robust investor engagement.
Looking ahead, Okonkwo emphasised proactive risk management, explaining that the Group has expanded its risk lens, upgraded scenario planning, and tightened hedging mechanisms to sustain its growth trajectory.
