For the fiscal year 2022, Vitafoam Nigeria PLC paid its stockholders a dividend payout of N1.9 billion, or N1.52 per ordinary share worth 50 kobo.
The company announced that Dr. Bamidele Makanjuola, the chairman, would be stepping down after ten years on the job.Speaking to the shareholders on Thursday at the Company’s 61st Annual General Meeting in Lagos, Makanjuola expressed his gratitude to the Company’s Board of Directors, Management, and shareholders for their support throughout the years.
He said that, in accordance with the company’s policy for Non Executive Directors, this was his last AGM as the company’s chairman.”Our company’s fundamentals continue to be solid. The increase in turnover demonstrated the special strength in a challenging operating environment.Shareholders noticed that almost all performance measures for Vitafaoam during his leadership showed exponential growth.”
A peep at just the recent 5-year performance alone is fairly revealing that Vitafoam under Dr. Makanjuola has expanded significantly,” stated Mr. Mathew Akinlade, president of the Noble Shareholders Solidarity Association (NSSA).
He stated that, the revenue increased by 137% from N19. 5 billion in 2018 to N46. 3 billion in 2022. The Profits Per Share increased by 493 percent, from 57 to 338 kobo. The man merits to be honored.
