Business
Berger Paints plans 25% increase in final dividends as yearly profit rises
Berger Paints is scaling up final dividends for 2025 in mark of a hugely rewarding year, when post-tax profit touched a record and leapt by 147.7 per cent to N1.6 billion, compared to the preceding year, even though turnover only moderately improved.
The manufacturer distributed N0.40 per share to shareholders in interim dividend earlier in the year, twice as much as it did in 2024, and plans to pay N1.25 as final dividend, it said in its audited results published on Tuesday.
That could take its total payout for the year to N478.2 million.
The Nigerian real estate sector is projected to expand at a compound annual growth rate of 6.7 per cent between 2026 and 2029 on rapid urbanisation in key cities. The paint maker, which operates in the Nigerian market, saw a modest growth in 2025, judging by the revenue of listed paint-makers.
Berger Paints, CAP (the paint manufacturing unit of UAC of Nigeria), Meyer and Premier Paints together reported a 23.3 per cent jump in sales during the year, by PREMIUM TIMES’ calculation.
Net profit for each of the four expanded at a much faster pace than revenue, with Premier Paints, which plunged into loss in 2024, coming out of the woods during the year.
READ ALSO: Jaiz Bank, FCMB Group, Julius Berger top stock pick this week
Revenue for Berger Paints rose by one-fifth to N13 billion in the review period, driven by sales of paints and allied products. Finance income increased more than four times on the back of increased interest income on bank deposits.
The company recorded a 20.6 per cent rise in total assets, which climbed to N9.1 billion from N7.5 billion.
Berger Paints, incorporated at inception as British Paints (West Africa), was established in January 1959 to import paints from Newcastle, using the facilities of PZ, VYB and Brossette for distribution.
Berger, Johnson & Nicholson, a British paint manufacturer, purchased the company in 1969. The company adopted its current name 20 years later.
BY SUNDAY SAMUEL—The Zamfara State Police Command says its continuous effort to rid the state of crime and criminality have paid off as a team of police operatives attached to the Violence Crime Response Unit (VCRU), rescued three kidnapped victims along Gurusu–Anka Road who were travelling from Bukuyum to Talata Mafara.
A statement by Yazid Abubakar, Zamfara State Police Public Relations Officer says operatives were swiftly mobilised after receiving a distress call indicating that a large number of armed bandits wielding sophisticated weapons had blocked the Gurusu–Anka Road and kidnapped three persons travelling from Bukuyum to Talata Mafara. The team trailed the armed bandits into a nearby forest. A gun duel subsequently ensued between the police operatives and the bandits. Through the effective deployment of tactical measures, the bandits were overpowered and forced to flee into the bush with suspected gunshot wounds.
As a result of the operation, all three kidnapped victims were successfully rescued unharmed. However, the bandits escaped with an Android phone belonging to one of the victims.
Efforts are currently ongoing to track and apprehend the fleeing suspects through the stolen phone and other intelligence-led strategies.
The Commissioner of Police, A.M Bello Zamfara State Command, commends the bravery and professionalism of the operatives involved in the operation and reassures residents of the Command’s unwavering commitment to protecting lives and property across the state.
The post Zamfara Police Overpower Armed Bandits in Forest Gun Duel, Rescue 3 Kidnap Victims appeared first on Business Today NG.
Elon Musk, the world’s richest person, has attained trillionaire status after SpaceX, the rocket, AI and satellite communications company established by him, turned a soaraway success on its first trading day, surging 20 per cent to $2.1 trillion in valuation.
SpaceX’s shares closed at $161 on the Nasdaq on Friday, compared to its initial public offering (IPO) price of $135, making it the biggest-ever stock market debut.
The IPO had earlier raised $75 billion from investors and the underwriters of the transaction before the listing.
“Liftoff! First $SPCX trade complete,” Space X wrote on X (formerly Twitter), which Mr Musk also owns.
The 54-year old now has a total net worth of $1.1 trillion, according to the Bloomberg Billionaires Index, with its stake in SpaceX standing at 42 per cent or $767.1 billion as of Friday.
SpaceX debuted with a valuation of around $1.8 trillion. Its valuation at the end of Friday’s trade makes it the sixth-largest publicly traded company in the United States.
Trading under the ticker symbol “SPCX,” SpaceX began trading shortly before noon, attracting strong investor demand.
The listing places SpaceX among the world’s most valuable companies, despite the firm reporting a loss of nearly $5 billion last year and generating significantly less revenue than many technology giants with comparable valuations.
“I gave SpaceX a 10 per cent chance of succeeding at all,” Mr Musk said shortly before the company was listed.
SpaceX, since its establishment in 2002, has evolved from an experimental rocket startup into a dominant player in aerospace, satellite communications, and AI-related infrastructure.
READ ALSO: Elon Musk announces formation of American Party
Starlink, its satellite internet business, has expanded SpaceX beyond rocket manufacturing into a broader technology and connectivity platform.
Mr Musk, who now controls several companies, including Tesla, SpaceX, xAI, and X, began building his wealth by co-founding Zip2 and PayPal.
After completing the acquisition of X in October 2022 in a deal worth $44 billion, Mr Musk introduced monetisation features on the platform, which contributed to the growth of his business empire.
After selling Zip2 and later PayPal, he reinvested much of his earnings into Tesla, SpaceX, and other ventures.
Mr Musk’s wealth is now nearly equivalent to the entire economic output of Switzerland or Poland.
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