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    SEC approves 7 NGX’s Derivative Contracts, to launch first ETD in west Africa

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    Just in: Bandits attack President Buhari’s convoy in Katsina, two injured

    BREAKING: Former President, Muhammadu Buhari dies at 82

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    UAE imposes new visa conditions on Nigerians, bans transit visa

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    Billionaire businessman Aminu Alhassan Dantata dies at 94

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    Breaking: Iran launches missiles at US bases in the Middle East

    US military strikes Iran

    US military strikes Iran

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    United States scraps visa dropbox service for Nigerian applicants

    President Donald Trump cancels protection for 500,000 Haitian migrants

    Spain golden visa scheme ends as Portugal and Greece demand increases

    Spain golden visa scheme ends as Portugal and Greece demand increases

    CBN fines nine banks 150 million Naira each for failing to dispense cash

    CBN ends free ATM withdrawals for other banks’customers

    FG increases private university application fee from N5m to N25m

    FG increases private university application fee from N5m to N25m

    United States scraps visa dropbox service for Nigerian applicants

    United States scraps visa dropbox service for Nigerian applicants

    Buhari says Nigeria security and economy improved during his tenure

    Buhari says Nigeria security and economy improved during his tenure

    Air Sierra Leone commences flight operations to Lagos

    Air Sierra Leone commences flight operations to Lagos

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    Over 5 billion additional ordinary shares of Jaiz Bank Plc listed on NGX

    Jaiz Bank Plc reports N23 billion profit for 2024 FY.

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    Ellah Lakes Plc announces EGM to approve N250 billion capital raise, debt to equity conversion

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    Oando Plc reports N113 billion profit after tax for Q1 2025 amid N165.6 billion tax credit

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    List of Dividends announced in 2025, qualification and payment dates

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    Zenith Bank to exit CBN forbearance restriction end of June, confident in dividend payments

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N116m Dividend Approved by Berger Paints’ Shareholders

Friday, 28 May 2021, 8:44 pm
in Markets, Stocks/Equities
0
N116m Dividend Approved by Berger Paints’ Shareholders
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Berger Paints Nigeria Plc’s shareholders have approved the payment of N116m dividend as proposed by the company’s board for 2020 financial year which implies 40kobo per ordinary share signifying a 60% growth on the 25kobo dividend paid in 2019.

Berger Paints attributes this huge success to improved technology and innovative products which positioned them to take advantage of opportunities inherent in the cross-current movements of the Nigerian business environment.

According to the company’s Chairman, Mr. Abi Ayida, the challenges of 2020 propelled the company’s resolve to constantly repair investors and shareholders with high ROI as revenue increased by 7.1% to N3.84bn in 2020 from N3.58bn in 2019.

The Chairman told newsmen, “Our revenue was driven by volume growth despite the shutdown in economic activities, disruptions and environmental unrest and the loss of sales for about seven weeks in the year. Free cash flow remained strong at N529m, representing 34 per cent from the preceding year.

“However, a proposed dividend of 40 kobo per share in the year demonstrates the company’s unflinching commitment to the promises to shareholders. We are very conversant with the strategic threats being faced by manufacturers in Nigeria but we are equally positioned to take advantage of the opportunities.”

He further praised the managerial foresight of the company which made the Board to invest extensively in technology before the pandemic.

He finally commended the retired directors for their immense contributions to company which stimulated tremendous growth while urging the incoming ones to sustain the momentum of bespoke admonitions in order to increase Berger Paints’ world positioning.

Azuka Edokobi
Azuka Edokobi

Azuka Edokobi is a Writer , a Farmer, a Supply Chain Expert and an Entrepreneur

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