Berger Paints Pays N347.8m Dividend, Assures of Growth Prospects

Shareholders of Berger Paints Nigeria (BPN) Plc have unanimously approved the proposed 100 kobo final dividend for the 2024 financial year, bringing the total dividend payout to N1.20 per Ordinary Share of 50 kobo each. This translates to a total distribution of N347.8 million, reflecting the company’s strong performance despite challenging market conditions.

The company had previously distributed an interim dividend of 20 kobo per share, demonstrating remarkable resilience with impressive financial results for the year ended December 31, 2024.

BPN recorded a revenue of N10.8 billion, representing a substantial 36% increase over the N7.9 billion achieved in the previous year. Operating Profit showed even stronger growth, surging by 49% from N751 million to N1.12 billion, while Profit After Tax (PAT) reached N610.8 million – marking a notable 37% year-on-year increase despite the tough business environment. 

appreciation for the management’s strategic direction. Comrade Lawrence Oguntoye, while

moving the motion to approve the final dividend, highlighted the significance of the company’s dividend policy amid economic uncertainties.

“At this tough economic trajectory, Berger Paints is able to pay an interim and final dividend. I want to appreciate the Board and Management for this exemplary performance,” Oguntoye stated. 

This sentiment was echoed by another shareholder, Olugbosun Banji, who also commended the company’s performance.

The Company’s Chairman, Mr. Abi Ayida, reassured shareholders that BPN had developed robust strategies to ensure business continuity regardless of external challenges. He expressed confidence in the company’s future growth prospects.

“These outstanding results underscore the effectiveness of our strategic initiatives and the unwavering commitment of our management team and employees. I am very bullish on the growth prospects of BPN. We have devoted more resources to research and development to drive innovation. Our company remains fully committed to sustain our upward trajectory,” Ayida emphasised.

Group Managing Director and Chief Executive Officer, Alaba Fagun, reinforced this positive outlook by outlining the company’s forward-looking approach to market development and operational excellence.

She said, “We are thoughtfully evaluating opportunities to strengthen our market position through optimised distribution channels, focusing on areas with growth potential. Our ongoing efficiency improvements across operations help us navigate cost pressures while maintaining the standards our customers expect. We engage in selective collaborations that align with our long-term vision, including sustainability initiatives that create both environmental and business value. We shall continue to invest in technology solutions.”