Berger Paints declares 100kobo/share dividend

BERGER Paints Nigeria Plc has declared a final dividend of 100 kobo per 50 kobo ordinary share, payable to shareholders listed in the register of members as of the close of business on April 24, 2025.

This was stated in a release published by the company on the Nigerian Exchange (NGX) disclosure platform, signed by Secretary Omolara Bello.

The final dividend pertains to the financial year ended December 31, 2024, and is subject to withholding tax and regulatory approval, bringing the total dividend for the 2024 financial year to N1.20 kobo.

According to the company, qualified shareholders who have registered for e-dividends will receive their payments electronically directly into their bank accounts on May 22, 2025.

Furthermore, Berger Paints scheduled its Annual General Meeting for the same date, May 22, 2025, coinciding with the dividend payment.

Berger Paints’ final dividend of 100 kobo translates into N289.8 million.

Berger Paints published its audited financial statements for the year ended December 31, 2024, reporting a pre-tax profit of N1.12 billion.

This reflects a year-over-year increase of 45.41 percent compared to N776.3 million reported in the previous year.

The company noted a revenue increase of 35.95 percent, from N7.9 billion in 2023 to N10.8 billion in 2024, with sales from paints and allied products accounting for most of this revenue.

Additionally, other income was reported at N127.1 million, up from N83.9 million, primarily driven by fixed deposits, the sale of scrap, and income from property leases.

Despite a rise in selling and distribution as well as administrative expenses, Berger Paints recorded an operating profit of N1.1 billion, up from N751.2 million the previous year.

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