RateCaptain
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
  • Contact Us
No Result
View All Result
Subscribe
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
  • Contact Us
No Result
View All Result
RateCaptain
No Result
View All Result
Home company news

Berger shareholders approve N202m as dividends.

Rate Captain by Rate Captain
May 25, 2023
in company news, Corporates, Wealth
Reading Time: 2 mins read
A A
0
Berger shareholders approve N202m as dividends.
Share on FacebookShare on TwitterShare on WhatsappShare on Telegram

Shareholders of the paints and allied products manufacturer, Berger Paints of Nigeria Plc, have approved the payment of N202,876,413 as dividends for the 2022 financial year.

The approval was given at the 63rd Annual General Meeting of the company in Lagos on Wednesday.

AlsoRead

Nigeria’s Leading Crypto Marketplace Patricia Suffers Severe Security Breach

MTN Global Graduate Program Offers Exciting Opportunities for Young African Graduates

Nigerian Senate Amends CBN Act and Extends Supplementary Budget Implementation

The shareholders approved the payment of N202,876,413 as dividends at the rate of 70 kobo per share as against the 40 kobo paid in the preceding year. Shareholders also approved the appointment of Mrs Alaba Fagun as the company’s Managing Director and Chief Executive Officer.

Speaking on the floor of the AGM, a shareholder, Olowolafe Kehinde, said, “Despite the economic issue that is affecting us in this nation and also many companies’ operations, our revenue grew from N4.9bn to N6. 9bn, representing a 28% increase. Profit After Tax also grew from N135.6m to N208.6m, an increase of 53%. Looking at all these indices shows the resilience, unwavering ability of the able board and management.”

Kehinde stated that the company’s dividend policy had been consistent for the past 10 years.

The Chairman of the company, Abi Ayida, stated that the paint manufacturer would not rest on its oars.

“I think our performance speaks for itself. We accept the commendations but we are not satisfied. We are driving the company to do better. Last year was a very difficult year, the rise in input cost would have sunk most companies but we are well positioned to meet whatever challenges come our way because we think about how to move the company forward,” Ayida said.

The Managing Director and Chief Executive Officer, Alaba Fagun, noted that the challenges of business environment had prompted a dynamic strategic approach of re-engineering the Company’s goals to achieve more with less.

” The industry space is still common with challenges such as forex scarcity, inflation , security, high cost of operations, high importation of foreign products and inadequate standardization causing influx of substandard products. We expect these challenges to be addressed in the long term.

Notwithstanding these challenges, Berger is not relenting in delivering value to its shareholders, quality to customers and rewarding its employees and partners . With a historical growth in year on year revenue figures, we are committed to the trend and guaranty that’s our investments in people and technology would ensure sustainable value optimization and satisfaction of all stakeholders,” said Fagun.

 

Previous Post

FG approves NIN, debit card merger.

Next Post

What Nigerian should know about the new Dual-Purpose Debit Card and National Identity Card

Related News

Nigeria’s Leading Crypto Marketplace Patricia Suffers Severe Security Breach

Nigeria’s Leading Crypto Marketplace Patricia Suffers Severe Security Breach

by Rate Captain
May 28, 2023
0

Patricia, a prominent cryptocurrency marketplace in Nigeria, has fallen victim to a significant security breach that has compromised its financial...

MTN Global Graduate Program Offers Exciting Opportunities for Young African Graduates

MTN Global Graduate Program Offers Exciting Opportunities for Young African Graduates

by Rate Captain
May 28, 2023
0

MTN, a leading telecommunications company in Africa and the Middle East, has launched its highly anticipated MTN Global Graduate Program...

CBN Excludes NSPMC from Approved Cheque Printers.

Nigerian Senate Amends CBN Act and Extends Supplementary Budget Implementation

by Rate Captain
May 27, 2023
0

  In a significant move, the Nigerian Senate has recently made amendments to the Central Bank of Nigeria (CBN) Act,...

Assessing the Impact: Will a Potential U.S. Recession Shield the Market from a Downturn?

Assessing the Impact: Will a Potential U.S. Recession Shield the Market from a Downturn?

by Rate Captain
May 26, 2023
0

As the U.S. economy grapples with lingering inflation concerns, Michael Yoshikami, founder and CEO of Destination Wealth Management, suggests that...

Next Post
What  Nigerian should know about the new Dual-Purpose Debit Card and National Identity Card

What Nigerian should know about the new Dual-Purpose Debit Card and National Identity Card

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Nigeria’s Leading Crypto Marketplace Patricia Suffers Severe Security Breach

Nigeria’s Leading Crypto Marketplace Patricia Suffers Severe Security Breach

May 28, 2023
MTN Global Graduate Program Offers Exciting Opportunities for Young African Graduates

MTN Global Graduate Program Offers Exciting Opportunities for Young African Graduates

May 28, 2023

Popular Story

  • MTN Global Graduate Program Offers Exciting Opportunities for Young African Graduates

    MTN Global Graduate Program Offers Exciting Opportunities for Young African Graduates

    0 shares
    Share 0 Tweet 0
  • Nigeria’s Leading Crypto Marketplace Patricia Suffers Severe Security Breach

    0 shares
    Share 0 Tweet 0
  • Canada Expedites Family Reunification Process, Contrasting UK’s Immigration Policy

    0 shares
    Share 0 Tweet 0
  • Access Bank Invites Applications for 2023 Entry Level Trainee Program in Technology

    0 shares
    Share 0 Tweet 0
  • University of Glasgow Offers Leadership Scholarships for International Students.

    0 shares
    Share 0 Tweet 0
RateCaptain

RateCaptain

We bring you the most accurate in new and market data. Check our landing page for details.

  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
  • Contact Us

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

No Result
View All Result
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
  • Contact Us

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

?>