Shareholders of Vitafoam Nigeria Plc have approved a final dividend of N3.00 per ordinary share of 50 kobo, amounting to a total payout of approximately N3.75 billion, at the company’s 64th Annual General Meeting held in Lagos.
In addition to the dividend, investors endorsed the conversion of N125 million from retained earnings into bonus shares, distributed at a rate of one new ordinary share for every five shares held as of February 6, 2026. This strategic move increases Vitafoam’s issued share capital from N625.42 million to N750.1 million, creating 250,168,812 additional ordinary shares that rank equally with existing shares.
Brandspur Banking News Desk reports that the capital expansion has lifted Vitafoam’s market value from N142.9 billion to N171.5 billion, reflecting strong investor confidence. Prior to the increase, the company had 1,250,844,064 ordinary shares priced at N114.3 per share on March 5, 2026. Shareholders also approved amendments to the company’s Memorandum and Articles of Association to accommodate the revised capital structure.
The dividend and bonus approvals follow a stellar 2025 performance on the Nigerian Exchange, where Vitafoam returned 300% year-to-date, ranking 10th among the best-performing stocks. Market activity surged to over 404 million shares traded, compared with 141 million shares in 2024.
In its audited financials for the year ending September 30, 2025, Vitafoam reported revenue of N111.3 billion, up from N82.6 billion, with foam products contributing 98.6% of total sales. Pretax profit surged to N21.4 billion from N1.14 billion in 2024, while retained earnings rose 83.81% to N25.8 billion.
Year-to-date 2026, Vitafoam shares have climbed 49.09%, surpassing N100 in February and trading at N114.3 per share as of early March. Analysts note that investors may consider buying on dips below N114, while momentum traders could target a break above February’s high of N119 per share.
This latest capital and shareholder reward initiative reinforces Vitafoam’s commitment to creating long-term value, enhancing investor returns, and supporting sustainable growth in Nigeria’s consumer goods sector.
