VITAFOAM Nigeria Plc has proposed a dividend of N246 million,
translating into 30 kobo per share in addition to a bonus share of one for
every five Ordinary Shares held by each shareholder as rewards from the
company's outstanding performance in its 2014 financial year.
By the company's financial performance, it posted an after tax
profit of N659 million in the current year as against N395 million recorded in
the previous year, an increase of 67 per cent, despite assessed harsh operating
environment.
According to a statement from the company, its earnings per
share (EPS) grew by 69 per cent to stand at 81 kobo per share in the current
period compared with 48 kobo per share in the previous year.
The result is expected to be endorsed by the company's shareholders
on June 4, 2015 at the annual general meeting when the Chairman, Dr. Bamidele
Makanjuola, would present the scorecard.
"The strong financial performance has been submitted to the
Nigerian Stock Exchange. Expectedly, investors are already jostling for the
company's shares on the Nigerian Stock Exchange, thus leading to steady
appreciation of the share price. Market watchers were quick to attribute the
company's impressive performance to innovation and internal efficiencies.
-allafrica
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