Shareholders of VFD Group Plc have approved a total dividend payout of N3.17 billion, translating to N2.50 per share, following the company’s strong financial performance in 2024. The resolution was passed at the firm’s 9th Annual General Meeting (AGM), which was held virtually in Lagos on Thursday.
In addition to the dividend, shareholders also endorsed a five-for-one bonus share issuance. The company said this move reflects its long-term commitment to shareholder value creation and investor confidence.
According to the company’s financials, VFD Group recorded a profit of N11.3 billion for the 2024 financial year, a significant recovery from its performance in 2023. The unaudited results for Q1 2025 also showed a profit of N4 billion — an increase of N1 billion compared to the same period last year.
Chairman of the Board, Olatunde Busari, SAN, attributed the impressive recovery to improved governance and tighter operational control. “The turnaround of 2024 is the result of sharper risk controls and tighter portfolio alignment by the management and team. Evidently, we are back and better positioned for growth,” he stated.
Despite economic challenges in 2023, Busari noted that the Group remained transparent and accountable, maintaining investor trust during turbulent times.
Speaking on the company’s outlook and strategy, Group Managing Director Nonso Okpala said VFD Group is expanding its investment footprint across key African markets. “We are scaling our ecosystem with new investments across financial services and real estate, from Nigeria to Ghana and South Africa. South Africa is key, but not our only focus,” Okpala said.
The company appears to be leveraging its ecosystem approach — connecting financial, investment, and technology platforms — to drive regional expansion. Okpala said this strategy is backed by a strong balance sheet and a clear focus on building long-term value through innovation and responsible investing.
Executive Director of Finance, Risk, and Compliance, John Okonkwo, provided insight into the drivers of profitability, noting that the company had significantly de-risked its portfolio and improved compliance mechanisms. “Our profit was driven by de-risked exposure, stronger compliance, and an optimised investment mix. We also recorded growth in recurring income and trading volumes in Q1 2025, with improved system resilience and stronger investor engagement,” he said.
The Group also announced plans to explore fintech infrastructure, capital market platforms, and real estate opportunities in both West and East Africa. According to the company, these plans will enable it to co-invest in scalable ventures across the continent.
VFD Group’s proactive expansion and solid financial performance reflect growing investor interest in diversified holding companies that blend finance, technology, and real estate. The company’s decision to issue bonus shares and pay dividends suggests it is focused on strengthening shareholder loyalty while positioning itself for broader African relevance.
