Berger Paints is set to increase its final dividend for 2025 due to a highly profitable year, in which post-tax profits surged by 147.7% to reach N1.6 billion compared to the previous period, despite only moderate growth in turnover.
Earlier this year, the company issued an interim dividend of N0.40 per share to its shareholders, which was double the amount distributed the year before. According to the audited financial statements released on Tuesday, the final dividend is planned to be N1.25 per share.
This adjustment could push the total dividend payout for the year to N478.2 million.
The Nigerian real estate sector is anticipated to grow at a compound annual rate of 6.7% from 2026 to 2029, driven by rapid urbanization in major cities. Berger, which operates within the Nigerian market, experienced moderate growth in 2025, as reflected in the sales figures from other listed paint companies.
According to calculations by PREMIUM TIMES, Berger Paints, along with CAP (the paint production division of UAC of Nigeria), Meyer, and Premier Paints, recorded a 23.3% increase in sales during the year.
All four companies saw net profits grow at a rate that exceeded revenue, with Premier Paints recovering from a loss in 2024 to return to profitability.
For the review period, Berger Paints' revenue increased by 20% to N13 billion, driven largely by sales of paints and related products. The company also saw its finance income quadruple, primarily due to an uptick in interest income from bank deposits.
Additionally, Berger Paints' total assets rose by 20.6%, climbing from N7.5 billion to N9.1 billion.
Berger Paints was initially founded as British Paints (West Africa) in January 1959 to import paints from Newcastle, utilizing distribution facilities from PZ, VYB, and Brossette. The company was acquired by British manufacturer Berger, Johnson & Nicholson in 1969, and changed its name two decades later.
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