Berger Paints shareholders approve N1.25 dividend, retirement benefits

By Damilare Adeleye

Shareholders of Berger Paints Nigeria Plc have approved a final dividend of N1.25 per share for the 2025 financial year and renewed the company’s mandate for recurring related-party transactions.

These decisions were passed during the company’s 66th Annual General Meeting, which was held virtually on Thursday, May 21, 2026.

A corporate filing issued by the company’s secretary/legal adviser, Olajide Oyewole, disclosed that shareholders unanimously approved the payment of a final dividend of N1.25 for each 50 kobo ordinary share held by all members whose names appeared in the Company’s Register of Members as of the close of business on April 23, 2026.

At the meeting, the company’s audited financial statements for the year ended December 31, 2025, alongside reports of the directors, auditors, board appraisers, and audit committee, were adopted by shareholders.

Mrs. Erejuwa Gbadebo and Dr. Aisha Umar, both Independent Non-Executive Directors who retired by rotation, were re-elected to the board. Shareholders also authorized the directors to determine the remuneration and expenses of the company’s external auditors.

The company further disclosed that the total remuneration paid to managers during the 2025 financial year stood at N280.43 million, as contained in the annual report.

For the statutory audit committee, shareholders re-elected Mr. Chibuzor Eke, Mrs. Mary Joke Shofolahan, and Mr. Taiwo Afinju as shareholders’ representatives, while Dr. Ogechi Iheanacho and Mr. Kunle Olowokande were appointed as board representatives on the committee.

Under the special business segment of the AGM, shareholders approved the payment of N37.03 million as retirement benefits to Mr. Raj Mangtani following his exit from the board.

The shareholders also renewed the company’s general mandate on recurrent related-party transactions, approving all transactions of a revenue or trading nature or those necessary for the Company’s day-to-day operations in line with Nigerian Exchange rules.

According to the resolution, the renewed mandate takes immediate effect and will remain valid until the conclusion of the company’s next Annual General Meeting (AGM).