By Adedapo Adesanya
A proprietary investment company, VFD Group Plc, has proposed the payment of N8.51 as the final dividend to its shareholders for the 2020 financial year.
This was disclosed by the company in a notice on Tuesday to the NASD Over-the-Counter (OTC) Securities Exchange, where it trades its securities.
The payment will be subject to approval at the 5th Annual General Meeting (AGM) of the company scheduled for Thursday, May 31, 2021, the release stated.
The AGM will hold at the Radisson Blu Anchorage Hotel located at 1A Ozumba Mbadiwe Avenue, Victoria Island, Lagos at 11:00 a.m.
The disclosure noted that attendance at the meeting would purely be by proxy due to coronavirus restrictions on large gatherings by the government.
If the dividend payment is approved at the meeting, shareholders of the company will be credited on the payment date pegged for the same day.
However, the qualification date for the dividend has been set for Friday, May 14. This means those who own the company’s shares as of this date will be eligible to receive the stipulated dividend payment.
The notice noted that the closure of the company’s register will be from Monday, May 10 to Friday, May 14, 2021 (both dates inclusive).
At the close of trading at the NASD OTC bourse on Tuesday, the company’s stock closed flat at N353.31 per unit.
The company’s stock had hit an all-time high of N361.82 in April after skyrocketing more than 244.4 per cent this year before dropping to the current price.
VFD Group is a proprietary investment company that focuses on building positive and socially conscious ecosystems by aggregating potentially viable business with the objective of creating innovative products and solutions that are accessible to the everyday Nigerian citizen and entrepreneur.
It operates in every area of the financial industry through its portfolio, providing financial advisory, asset management, currency, real estate, debt services and private funds management services.
