University ‌‌‌‍‍⁠⁠‌⁠‌⁠⁠‌‍‌‌Press raises dividend by 20 per cent

University Press Plc has increased its dividend payout to shareholders by 20 per cent, from 15 kobo to 18 kobo per ordinary share, for the financial year ended March 31, 2026.

The nation’s foremost publishers of materials for educational and general reading announced the dividend at its 2026 Annual General Meeting (AGM) in Ibadan on Thursday.

The dividend amounts to about N77.65 million and is subject to applicable withholding tax.

The company’s chairman, Mr Obafunso Ogunkeye, said the dividend reflected the company’s commitment to sustaining value for shareholders despite the challenging operating environment.

“The company remained financially stable and had sustained revenue growth despite inflation, higher energy and transportation costs, insecurity and weakened purchasing power.

“In the audited financial statements, revenue increased from N3.402 billion in 2025 to N3.895 billion in 2026, while gross profit rose from N1.957 billion to N2.132 billion,” the chairman said.

Ogunkeye said the company would continue to exercise discipline in operating expenditure, working capital management and cash generation while pursuing sustainable growth.

He said the company would also strengthen its core publishing business and capitalise on opportunities arising from the Federal Government’s revised national curriculum.

The chairman said University Press would review its catalogue, revise affected titles and develop new learning materials in collaboration with authors, editors, teachers, curriculum specialists and relevant education authorities.

The company’s Managing Director (MD)/Chief Executive Officer, Mr Samuel Kolawole, said management would focus on ensuring that revenue growth translated more effectively into sustainable shareholder value.

Kolawole said, “The company will strengthen its print publishing business while developing e-books, interactive learning resources and other digital products.

“The company remains committed to maintaining the confidence of its shareholders through quality publications, improved access to learning materials and sustainable business growth.”

Responding to shareholders’ questions on piracy, the use of Artificial Intelligence, and digitising educational materials, among others, the MD said the company has been working on the issues raised.

He, however, said actions would be expedited where necessary.

The event featured the re-election of the company’s non-executive directors: Mr Yomi Adewusi, Mr Ayodeji Olorunda, Dr Josephine Diete-Spiff and Maj. General Daniel Kitchener.