Business Vitafoam’s Shareholders Approve N246m Dividend - Thisday

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Shareholders of Vitafoam Nigeria Plc Thursday approved the N245.7 million dividend recommended for the 2013 financial year at the company’s 52nd Annual General Meeting (AGM) held in Lagos. The dividend, which translates into 30 kobo per share, was recommended by the Board of Directors for the year ended September 30, 2013.

Approving the dividend, the shareholders urged the directors to access the capital market for more funds through a right issue and save the huge financing charges that affected the company’s bottom line in 2013.

According to them, the board already had their approval to raise fresh funds via equity issuance, saying the funds should be raised this year.

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Source: Thisday Newspaper

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