By InvestAdvocate

Lagos (INVESTADVOCATE)-Vitafoam Nigeria Plc has proposed to reward investors of the Company with a 30 Kobo dividend payout for the period ended September 30 2011.

This was contained in a recent Result Announcement of the Company to the Nigerian Stock Exchange (NSE) and obtained by www.investadvocateng.com in Lagos Nigeria.

The 30 Kobo dividend was the same amount paid to shareholders of Vitafoam for the 2010 year end.

Also, in the review period, the Company increased its Turnover from N10. 624 billion in year 2010 end to N14.520 billion in year 2011 end; indicating an increase of 36.7 percent (36.7%).

Profit After Tax (PAT) was N518.850 million in year 2011 end compared to NN512.784 million in year 2010; showing a slight increase of 1.2% in the review period.

While Profit Before Tax (PBT) was N823.566 million in year 2011 end compared to N823.253 in year 2010 end.

Vitafoam announced that Closure Date for shareholders to be rewarded with the 30 Kobo dividend is Monday January 23 to Friday January 27 2012, while the Annual General Meeting (AGM) date has been scheduled for February 23 2012 at the Lagos Sheraton Hotel in Lagos Nigeria.

According to the Result Announcement, payment date for the 30 Kobo dividend payout would be communicated to shareholders of the Company in due time.