Berger Paints Nigeria Plc, a big producer of coated paints and related goods, has requested that its shareholders approve a dividend of 80 kobo per share in its upcoming 64th Annual General Meeting (AGM), which will be held in Lagos, despite the difficult operating environment in Nigeria.
The dividend will increase the final dividend for the review period to N1 per share, totaling N232 million, from the previous N203 million paid in 2022. The company also plans to request approval of the interim dividend payment of N58 million, or 20 kobo per share, at the AGM.
Additionally, the company's basic earnings per share increased by 125% from 72 kobo to 162 kobo in the 2023 financial year, and its profit for the same year increased to N468 million from N208 million.
The MD/CEO of Berger Paints Nigeria Plc, Mrs. Alaba Fagun, attributed the outstanding performance to the development of benefits from the rebranding, the use of contemporary technology to guarantee high-quality products, and the availability of strong human capital.
Read more: https://www.investingport.com/berge...approval-for-a-dividend-of-80-kobo-per-share/