VFD Group Shareholders Back N0.25 Dividend, Re-Elect Directors At 10th AGM In Lagos

Investors in VFD Group Plc have given the green light to a dividend payout of 25 kobo per share for the financial year that concluded on December 31, 2025. The decision was made during the company’s 10th Annual General Meeting (AGM) held in Lagos. The gathering, themed “Level Up: Positioned for What’s Next,” served as a platform for shareholders, board members, regulators, and other key stakeholders to assess the group’s 2025 performance and vote on resolutions shaping its future growth trajectory.

Beyond the dividend approval, the assembly endorsed several critical corporate actions. These included the re-election of Ms. Omolola Bolusire as an Independent Non-Executive Director and the retention of PricewaterhouseCoopers (PwC) as the Group’s External Auditors. Shareholders also ratified the appointments to the Statutory Audit Committee and other governance-related matters presented at the meeting. The voting results demonstrated strong backing from investors, with multiple motions securing approval margins above 99%.

Nonso Okpala, the Group Managing Director and CEO, used the occasion to highlight the firm’s dedication to institutional expansion and disciplined operations aimed at creating long-term value. He said gratitude to investors for their role in the recent capital raise, stating that their trust was instrumental in the company’s current standing. Okpala explained that the raised funds would fuel strategic execution across five core sectors: market infrastructure, capital market operations, real estate and hospitality, financial services, and retail technology.

The CEO clarified that these investments are designed to solidify VFD Group’s market position, aiming to make its businesses top-five players in the economy. He emphasized that the expansion strategy is deliberate rather than opportunistic, focusing on replicating Nigerian successes in key African markets. Okpala said, “First, we must appreciate our shareholders who made the recently concluded capital raise a success. Without their trust and support, we would not be where we are today, and we remain deeply grateful to them. The capital raised will support the continued execution of our strategy across our five major verticals: market infrastructure, capital market operations, real estate and hospitality, financial services, and retail technology. 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. Our expansion strategy is not random or opportunistic. It is a deliberate effort to identify and pursue opportunities across Africa while replicating the successes we have achieved in Nigeria within key African markets.”

Addressing the dividend declaration, Okpala said that despite challenging operating conditions and growth costs, the group remains committed to rewarding shareholders. He specified that the payout amounts to 25 kobo for every 50-kobo share held. He attributed this consistency to careful planning and strict adherence to corporate governance, transparency, and risk management. Okpala added, “Year after year, despite the operating environment and the costs associated with growth, VFD Group has remained committed to rewarding its shareholders through consistent dividend declarations. This year, we declared a dividend of 25 kobo for every share of 50 kobo held by shareholders. That outcome is not driven by luck. It is the result of deliberate planning, disciplined execution, and a clear determination to succeed as an institution. The foundation of our growth story continues to be transparency, accountability, strong risk management practices, and strict adherence to corporate governance standards. Those principles remain central to how we operate and create sustainable value for shareholders.”

Olatunde Busari (SAN), Chairman of the Board, underscored the significance of governance and resilience as the group expands its ecosystem. He argued that investor confidence relies heavily on trust and discipline, especially for a publicly listed entity subject to rigorous regulatory oversight. Busari said, “Transparency, accountability, and compliance are extremely important to us. As an investment company, we take governance very seriously because investor confidence is built on trust and discipline. Being a publicly listed company also means we are subject to stronger regulatory oversight than a private company, and we see that as a positive. It reinforces our commitment to doing business responsibly and sustainably. Given the scale of our activities and investments across sectors, risk management is also a critical priority for us. We continue to strengthen our governance and risk frameworks, and that disciplined approach has contributed significantly to the company’s consistent growth year after year.”

Folajimi Adeleye, Executive Director for Finance and Investor Relations, provided further insights into the group’s financial health, capital structure, and strategic priorities following the recent Rights Issue exercise.