Berger Paints to pay shareholders N202.88m dividends in 2022

The Directors recommend to the shareholders the payment of a dividend in respect of the year ended 31 December 2022 of N202.88 million, representing 70 kobos per share.

The dividend is subject to shareholders’ approval and appropriate withholding tax will be paid to shareholders whose names appear in the Register of Members as at the close of business on April 26, 2023.

The Company recorded revenue of N6.33 billion in the year under review which represents 28 per cent topline growth compared to the N4.96 billion turnover recorded in the corresponding year in 2021.

Shareholders of Berger Paints Nigeria Plc will receive a final dividend of N202.88 million for the financial year ending December 2022, representing a total dividend of 70 kobos per share declared by the paint firm.

The Board of Directors of Unilever Plc has pursuant to the powers vested in it by the provisions of section 426 of the Companies and Allied Matters Act (CAMA 2020) of Nigeria proposed a final dividend of 70 kobos per share for the financial year 2022.

This was contained in the company’s corporate action announcement to the Nigerian Exchange Limited (NGX) and obtained by journalists.

According to the company, the dividend is subject to shareholders’ approval and appropriate withholding tax will be paid to shareholders whose names appear in the Register of Members as at the close of business on April 26, 2023.

The statement signed by the company said that on May 24, 2023, dividends will be paid electronically to shareholders whose names appear on the Register of Members as of April 26, 2023, and who have completed the e-dividend registration and mandated the Registrar to pay their dividends directly into their Bank accounts.

Shareholders who are yet to complete the e-dividend registration are advised to download the Registrar’s E-Dividend Mandate Activation Form, which is also available on the website of the Registrars.

Shareholders with dividend warrants and share certificates that have remained unclaimed, or are yet to be presented for payment or returned for validation are also advised to complete the e-dividend registration or contact the Registrar.

Berger Paints Plc’s audited report for the full year ended December 2022 showed pretax profit grew by 100 per cent in the full year to N355.579 million from N178.089 million last year.

This is on the back of increasing inflation which the economy continues to battle. The headline inflation rate rose to 21.91 per cent in February 2023 compared to 21.82 per cent recorded in the preceding month of January.

The National Bureau of Statistics (NBS), said looking at the trend, the February 2023 inflation rate showed an increase of 0.09 per cent points when compared to January 2023 headline inflation rate.

However, due to a 246 per cent growth in income tax expenses to N146.909 billion from N42.454 billion in 2021, Profit After Tax rose by 54 per cent to N208.670 million from N135.6356 million reported last year.

The paint company reported a 28 per cent growth in revenue to N6.331 billion from N4.964 billion in 2021.