Economy
Vitafoam Increases Dividend Payout Amid 2.2% Drop in Net Profit
By Dipo Olowookere
Shareholders of Vitafoam Nigeria Plc will earn more cash rewards for the 2022 fiscal year as the board has increased the dividend payout for the period under consideration.
In the 2021 accounting year, the board paid N1.50 as the final dividend for each stock of the company held by investors and this year; this has been raised by 1.33 per cent to N1.50 despite the fact that the firm recorded a shortfall in its net profit.
Analysis of the financial statements of the organisation for the year ended September 30, 2022, indicated that the pre-tax profit decreased by 1.4 per cent to N7.2 billion from N7.3 billion in the 2021 fiscal year, while the post-tax profit moderated by 2.2 per cent to N4.5 billion from N4.6 billion.
Business Post reports that Vitafoam declared lower profits in the reporting year despite improving its earnings as the revenue generated in the period under consideration surged by 30.8 per cent to N46.3 billion from N35.4 billion.
The driving force for this improvement was the sale of its products to customers, which raked in N44.7 billion in FY 22 compared with the N34.2 billion achieved in FY 21.
Also, earnings from freight income improved in the year under review to N1.6 billion from N1.2 billion.
In the year, the cost of sales gulped N30.9 billion, in contrast to N21.7 billion in the preceding year, due to the higher cost of raw materials for its products and higher costs for manpower and manufacturing expenses.
This left the firm with a gross profit of N15.4 billion versus N13.7 billion in the 2021 accounting year.
Also, the company reported higher administrative expenses in the 2022 financial year as it stood at N6.8 billion as of September 30, 2022, in contrast to N4.5 billion as of September 30, 2021, as a result of more funds allocated to advertising, donations, personnel costs, entertainment, exchange loss, insurance, electricity/other utilities, transport/travelling, security and others.
These elevated expenses impacted negatively on the operating profit of Vitafoam as it closed at N6.9 billion in FY 2022 versus N7.9 billion in FY 2021.
The company disclosed in its financial results that it earned N998.6 million from finance income compared with N254.9 million in the corresponding fiscal year, while finance costs gulped N705.0 million in FY 22 compared with N852.5 million in FY 21.
By Aduragbemi Omiyale
The pre-registration training and examination for capital market operators (CMOs) for the second quarter of 2026 has been postponed.
Business Post gathered that the new date for the exercise is now Monday, June 15, 2026.
This information was disclosed by the Securities and Exchange Commission (SEC) through a circular on Monday, June 8, 2026.
The Nigerian capital market regulator stated that this postponement has also resulted in the extension of the deadline for registration to Friday, June 12, 2026.
In the notice today, the SEC expressed its regret for the inconvenience this action may cause operators, who had prepared for the initial date of the training and examination.
“Further to the recent circular on Q2 2026 Pre-registration Training and Examination, the Securities and Exchange Commission (SEC) hereby informs all eligible applicants for the Q2 2026 Pre-registration Training and Examination that the commencement date has been postponed to Monday, June 15, 2026.
“Registration on the designated portal has also been extended to Friday, June 12, 2026. All other conditions contained in the circular remain unchanged.
“The commission regrets any inconvenience this postponement may cause and appreciates the understanding of all applicants,” the disclosure noted.
By Aduragbemi Omiyale
One of the leading healthcare firms in Nigeria, Fidson Healthcare Plc, has listed additional shares on the Nigerian Exchange (NGX) Limited.
The new stocks absorbed into the stock market were 600 million units, raising the total issued and fully paid-up shares of Fidson to 3,000,000,000 ordinary shares of 50 Kobo each from 2,400,000,000 ordinary shares of 50 Kobo each.
The fresh equities came from the company’s rights issue of 600,000,000 ordinary shares of 50 Kobo each at N35.00 per share.
They were issued to existing investors on the basis of one new ordinary share for every existing four ordinary shares held as of the close of business on Wednesday, November 12, 2025.
Confirming the development, the regulator in a notice said, “Trading licence holders are hereby notified that an additional 600,000,000 ordinary shares of 50 Kobo each of Fidson Healthcare Plc were on Tuesday, June 2, 2026, listed on the daily official list of Nigerian Exchange Limited.
“The additional shares arose from the company’s rights issue of 600,000,000 ordinary shares of 50 Kobo each at N35.00 per share on the basis of one new ordinary share for every existing four ordinary shares held as at the close of business on Wednesday, November 12, 2025.
“With the listing of the additional 600,000,000 ordinary shares, the total issued and fully paid-up shares of Fidson Healthcare Plc have now increased from 2,400,000,000 to 3,000,000,000 ordinary shares of 50 Kobo each.”
By Modupe Gbadeyanka
This news will surely excite local contractors with verified claims of N100 million or less, as the federal government has approved their payments.
This approval for the disbursement was given by the Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele.
This followed a verification and reconciliation exercise designed to ensure only validated claims qualify for payment.
The beneficiaries cover contractors across multiple ministries, departments and agencies. The release of the funds is expected to enable contractors to return to project sites, pay workers, settle suppliers and meet outstanding financial commitments.
In an announcement on Monday, the Federal Ministry of Finance also said this latest batch of payments would ease liquidity pressure on small businesses and accelerate economic activity nationwide.
It was noted that the payments for verified claims of N100 million below were strategically done to spread economic impact broadly rather than concentrate disbursements among a handful of large firms.
The payments form part of a broader push to clear inherited contractor obligations, with over N700 billion verified in recent months.
“For many beneficiaries, the release of funds represents more than a financial transaction. It provides the certainty needed to sustain operations, preserve jobs, complete ongoing projects, and contribute to economic recovery and growth,” the ministry said in a statement.
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