VFD Group Shareholders Approve N2.50 per Share Dividend, 5-for-1 Bonus

Shareholders of VFD Group Plc have approved a dividend payment of N2.50 per share, amounting to a total payout of N3.17 billion for the 2024 financial year.

The shareholders also  approved a bonus share issuance of five new shares for every one held, a bold move underscoring the group’s commitment to long-term shareholder value and investor confidence.

The approvals were given at the ninth annual general meeting (AGM) held virtually, who  brought together shareholders and Board Directors to reflect on the group’s 2024 performance and lay the groundwork for its ambitious continental expansion agenda.

The proprietary investment firm that is building Africa’s most diverse business ecosystem, had announced a N11.3 billion profit in 2024, marking a full turnaround from its 2023 performance. The company also shared its unaudited first quarter (Q1) 2025 results, which recorded N4 billion in profit, a N1 billion increase over first quarter (Q1) 2024.

The Chairman of the Board, Mr. Olatunde Busari, attributed the rebound to stronger governance and disciplined execution:

He said: “This AGM is a significant one. Since our first dividend in 2016, VFD Group has consistently rewarded shareholders. 2023 was an outlier on that trajectory however the company has resumed paying dividend and rewarding its shareholders. The turn around of 2024 is the result of sharper risk controls and tighter portfolio alignment by the Management and team and evidently, we are back and better positioned for growth.”

Speaking on the firm’s momentum on performance and cross-border growth, Group Managing Director, VFD Group,  Mr. Nonso Okpala, said:“Our 2024 rebound was driven by swift, collaborative decisions and clear ambition. Beyond our N11 billion profit, Q1 2025 saw unaudited profits hit N4 billion already. We are scaling our ecosystem with new investments across financial services and real estate, from Nigeria to Ghana and South Africa.”

He added: “South Africa is key, but not our only focus. We are actively exploring fintech infrastructure, capital market platforms, and real estate across West and East Africa. Our strong balance sheet enables us to lead deals and co-invest across the continent.”

Executive Director, Finance, Risk & Compliance, VFD Group, Mr. John Okonkwo, elaborated on the group’s internal recalibration, saying: “We closed FY 2024 with N11.3 billion in profit, a full recovery driven by de-risked exposure, stronger compliance frameworks, and an optimised investment mix. In Q1 2025, we are seeing growth in recurring income and trading volumes, with higher investor engagement and stronger system resilience.”

On forward strategy, he added: “We have expanded our risk lens, upgraded scenario planning, and tightened hedging mechanisms to ensure this momentum is not only sustained, but managed proactively.”