Shareholders of VFD group have approved a total dividend payment of N3.17 billion and a bonus share issuance of five new shares for every one held by investors.
The dividend translated to N2.50 per share held by investors.
The dividend and bonus stand as a bold move underscoring the Group’s commitment to long-term shareholder value and investor confidence.
According to the company result, VFD Group declared a N11.3 billion profit in FY 2024, marking a full turnaround from its 2023 performance. The company also shared its unaudited first quarter 2025 results, which recorded N4 billion in profit, a N1 billion increase over the amount reported in 2024.
The Chairman of the Board, Mr. Olatunde Busari SAN, attributed the rebound to stronger governance and disciplined execution: “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.”
He further emphasized the Group’s governance foundation: “Over 15 years, we have cultivated trusted relationships with shareholders, regulators, and partners. Even in tough cycles like 2023, we upheld boardroom accountability and transparency. Governance brings clarity, and clarity fuels trust which this agm represents.”
Group Managing Director, Mr. Nonso Okpala speaking on the firm’s momentum on performance and cross-border growth: “Our 2024 rebound was driven by swift, collaborative decisions and clear ambition. Beyond our N11 billion profit, first quarter 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, Mr. John Okonkwo, elaborated on the Group’s internal recalibration, saying
“We closed Financial Year 2024 with N11.3 billion in profit, a full recovery driven by de-risked exposure, stronger compliance frameworks, and an optimised investment mix In first quarter 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.