Vitafoam Proposes N260.51m Dividend, On-for-Five Bonus

Perhaps the best news for the year-end came just before trading closed for the year on Monday, December 31, 2018, with the recommendation of a double by directors of Vitafoam Nigeria Plc for approval by shareholders at its annual general meeting come March 7, 2019.
A notice by ‘Lekan Sanni, the Company Secretary/Legal Adviser, says the directors at their board meeting on December 18, 2018, besides approving the audited financial statement for the year ended September 30, 2018, recommended a dividend of N260.51m, representing a dividend of 25 kobo per share.
In addition, the board also proposed at bonus of one new share for every five existing ordinary shares for shareholders whose names appear in the register on February 15, 2019.
If approved the dividend is to be paid a day after the AGM to shareholders whose names appear in the register of members at the close of business on February 15, 2019.
Meanwhile, the register of members and transfer books of the company will be closed from February 18 to 22, 2019.