Berger Paints Declares Final Dividend of 100 Kobo Per Share for FY 2024, Sets AGM for May 22

LAGOS, Nigeria — Berger Paints Nigeria Plc has announced a final dividend of 100 kobo per 50 kobo ordinary share for the financial year ended December 31, 2024, according to a corporate disclosure filed on the Nigerian Exchange (NGX).

The final dividend, subject to regulatory approval and withholding tax, will be paid to shareholders whose names appear in the company’s register of members by the close of business on April 24, 2025.

The notice, signed by Company Secretary Omolara Bello, confirms that qualified shareholders who have completed their e-dividend registration will receive payment electronically on May 22, 2025—the same day scheduled for the company’s Annual General Meeting (AGM).

Key Dividend Highlights

Final Dividend: 100 kobo per share
Total Dividend for FY 2024: 120 kobo per share
Dividend Yield: 5.31% (based on N18.85 share price)
Total Dividend Value: ₦289.8 million
Final Dividend Payout Ratio: 47.44%
P/E Ratio: 8.94x (above the industry average of 0.79x)

This move signals shareholder confidence and underscores Berger Paints’ strong financial performance in 2024 despite broader economic challenges.

Financial Performance: Strong Growth in 2024

According to its audited financial statements, Berger Paints reported a pre-tax profit of ₦1.12 billion for FY 2024, representing a 45.41% increase year-on-year from ₦776.3 million in 2023.

Revenue Breakdown

Total Revenue: ₦10.8 billion (▲35.95% YoY from ₦7.9 billion in 2023)
Core Business: Paints and allied products continued to dominate revenue streams
Other Income: ₦127.1 million (up from ₦83.9 million), attributed to:
- Fixed deposit interest
- Sale of scrap
- Rental income from property leases

Despite an increase in selling, distribution, and administrative expenses, Berger Paints posted an operating profit of ₦1.1 billion, up from ₦751.2 million in the prior year.

Company Profile: Berger Paints Nigeria Plc

Founded: 1959
Headquarters: Ikeja, Lagos
Business Segments:
- Paints and allied products
- Contract revenue
- Investment property

Berger Paints remains one of Nigeria’s most established paint manufacturers, with a nationwide distribution network and a growing portfolio of decorative and protective coatings. The company has built a strong reputation for innovation and product quality, which continues to drive market demand.

📅 Important Dates for Shareholders

Event	Date
Register of Members Closes	April 24, 2025
Dividend Payment Date	May 22, 2025
Annual General Meeting (AGM)	May 22, 2025

Conclusion: Positive Outlook Amid Strong Fundamentals

Berger Paints’ decision to declare a 100 kobo final dividend, raising its total FY 2024 payout to 120 kobo, reflects the company’s healthy cash flow, solid growth trajectory, and commitment to shareholder value.

With a strong revenue performance, rising profitability, and a dividend yield of over 5%, the stock remains attractive to income-focused investors in Nigeria’s equities market.

As the company prepares for its 2025 AGM, shareholders and analysts alike will be watching closely to see how Berger Paints plans to leverage its momentum for continued growth in the years ahead.