The board of directors of Vitafoam Nigeria Plc. has approved the N156 million-dividend payout for investors in accordance to a resolution passed at a meeting held on December 19, 2017, which recommended 15 kobo dividend per share for the financial ended September 30, 2017.
However, the approval is subject to concurrence by the shareholders at the forthcoming annual general meeting (AGM) of the company in March this year.
The board in another resolution approved the group audited financial statements for the year ended September 30, 2017.
In a press statement to the Nigerian Stock Exchange (NSE), Vitafoam said that if dividend recommended is approved at the AGM, the dividend will 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.
Vitafoam also hinted that its audited financial statements for the year ended September 30, 2017 will not be filed on due date as required by the rules of the Nigerian Stock Exchange because of the need to satisfactorily conclude the resolution of audit-related issues, which may proceed beyond the submission deadline.