Top brass at Berger Paints Jamaica Limited (BPJL)—one of the Caribbean’s leading paint manufacturers—brought good news of the company’s performers to shareholders at its Annual General Meeting (AGM) on Friday, May 9, and came in for rapturous applause after announcing a dividend of J$1.25 per share.

In a major turnaround in performance since 2018, Berger was finally in a position to pay dividends. With earnings per share at J$0.49, the company declared a dividend of J$1.25 per share. 

Shareholders, directors, and key stakeholders gathered at the Jamaica Pegasus Hotel in New Kingston to review the company’s performance over the past fiscal year, discuss strategic goals, and reaffirm BPJL’s commitment to innovation, sustainability, and customer satisfaction.

Chairman Christian Llanos addressed the audience, highlighting the company’s resilience and adaptability amid a dynamic economic landscape.

“Despite global supply chain disruptions and inflationary pressures, Berger Paints Jamaica delivered steady performance and continued to invest in product innovation and operational efficiency,” Llanos said.

In his presentation, General Manager Dwaine Williams listed the company’s success pillars for 2025 as route to market, people, plant & warehouse optimisation, and expanding their dynamic Portfolio.

Importantly, BPJL invested J$130 million in a new trowel-on facility at its Spanish Town Road location, which will assist in the projected growth of the company. 

Williams presented key financial results, noting that the company recorded a 4% increase in revenue and net profit of J$151.8 million, a turnaround from a net loss of J$255.8 million in the year prior, underscoring growth in both retail and industrial sectors.

New product lines, enhanced customer experience initiatives, and improved distribution strategies were also cited as factors contributing to this performance. Williams thanked his board of directors for their effective stewardship and unwavering support.

“For plant or warehouse infrastructure—the building, the machinery—as some of you have seen, we’ve invested last year J$130 million in delivering materially increased capacity to the tune of one million litres in installed capacity for trowel-on. We’ve added a lot of modern equipment, not just to have the team working hard, but also working smarter,” said Williams.

Additionally, Berger’s focus on cost containment resulted in a 15% reduction in the cost of goods sold, and a 24% increase in gross profit, totalling J$134 million in gross profits for the year ended 31 December 2024. 

The AGM also included the re-election of board members, ratification of the auditor’s report, and discussions on the company’s forward-looking agenda, which includes further technological transformation and ESG (Environmental, Social, and Governance) initiatives.