By Modupe Gbadeyanka
A dividend of N156.3 million or 15 kobo per share has been recommended by the board of directors of Viafoam Nigeria Plc.
The proposed dividend payment is for the financial year ended September 30, 2017.
The dividend payment was recommended during a meeting of the board of the firm held on December 19, 2017, where the board approved the audited financial statements for the year ended September 30, 2017.
The dividend, according to the board, is subject to shareholders’ approval and withholding tax and if approved at the Annual General Meeting (AGM), would be paid on March 9, 2018, to members whose names appear in the register of members at the close of business on Friday, February 16, 2018.
The register of members and transfer books of the company will be closed from Monday, February 19 to 23, 2018.
A statement issued by Vitafoam Nigeria said its AGN is scheduled to hold at Lagos Sheraton Hotel, Mobolaji Bank Anthony Way, Ikeja on Thursday, March 8, 2018.
Meanwhile, in the audited financial results released by the firm, its revenue grew to N17.7 billion in 2017 from N13.57 billion recorded in the 2016 financial year.
However, its profit before tax fell to N18.1 million in 2017 from N61.2 million, while the company further recorded a loss of N127.7 million in the period under review in contrast to N32.03 million loss in 2016.
Adedapo Adesanya