Economy
Vitafoam Nigeria Shareholders Approve Dividend, Bonus Shares
By Dipo Olowookere
Shareholders of Vitafoam Nigeria Plc on Thursday, March 7, 2019, approved the 25 kobo per share dividend recommended by the board of the company. This approval was at the Annual General Meeting (AGM) of the firm held at Sheraton Hotel, Lagos.
Also at the gathering, the shareholders authorised the board to issue bonus of one new share for every five units already held.
Recently, Vitafoam Nigeria Plc released its numbers for the 2018 financial year, where the turnover increased to N17.6 billion from N15.9 billion in 2017. Also, the profit after tax appreciated to N486.1 million from N190.5 million in 2017.
In other to reward the shareholder for standing by the company during its trying periods, the board had proposed the payment of the dividend totalling N260.5 million and the scrip dividend subject to approval.
At the meeting, shareholders passed the resolution that the sum of N104.2 million out of the existing revenue account be capitalised and distributed among the shareholders of the company whose names appear on the register of members at the close of business on Friday February 15, 2019 on the condition that the same be not paid in cash but be applied in paying in full for 208,414,000 new ordinary shares of 50 kobo each to be allotted and credited as fully paid for an among such members in the proposition of one new ordinary share for every five existing ordinary shares held by them at that date.
They said the shares so distributed shall rank equally with the existing ordinary shares in all respects except that they shall not rank for the dividend recommended for the year ended September 30, 2018 and the directors shall give effect to this resolution on receipt of necessary approvals from the authorities.
Group Managing Director of Vitafoam Nigeria Plc, Mr Taiwo Adeniyi, who spoke at the AGM, assured that the company will continue to innovate and develop products that will keep it ahead of competition and enable it to grow its turnover while extracting better values for shareholders.
He said consistent growths in key performance indicators in successive results provided basis for assurance that the company will be able to surpass its previous performance in the current business year.
On his part, Chairman of Vitafoam Nigeria Plc, Mr Bamidele Makanjuola, attributed the success of the firm in the period under review to the strategic steps taken by the management to reengineer the business with special focus on products quality, innovation, market differentiation, customer service and consumer education.
According to him, “These efforts underscored our long-term priorities of growing revenue, controlling operating costs, and driving higher gross margins. I am pleased to report that we made great strides in cost containment and sustained positive trends in gross margins.”
He said further that, “The boost in both turnover and profitability reflected the robustness and fundamental strength of our business.”
Mr Makanjuola further urged the shareholders to continue to show more support for the company, assuring them of better returns.
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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