Shareholders of University Press Plc have approved a dividend of 18 kobo for every ordinary share of 50 kobo at the company’s 2026 Annual General Meeting (AGM), representing an increase from the 15 kobo paid in the previous year.
Chairman of the company, Mr Obafunso Ogunkeye, disclosed that the dividend payment amounts to approximately N77.65 million and will be subject to withholding tax.
Speaking at the AGM, Ogunkeye commended the company’s workforce for their resilience amid challenging economic conditions marked by global geopolitical tensions, supply-chain disruptions, and uncertainties in energy and commodity markets.
According to him, the company recorded a revenue growth of about 14 per cent, rising to N3.895 billion from N3.402 billion in the preceding financial year.
The chairman also introduced the company’s new Secretary and Legal Adviser, Ms Olusayo Adeleye, to shareholders, while he called for a minute silence for the company’s immediate past managing director, Alhaji Akin Olajide, who passed away last month.
In his remarks, the Managing Director, Mr Samuel Kolawole, expressed optimism about the company’s prospects in the 2026/2027 financial year, noting that management remains committed to sustaining growth and operational excellence.
‘To achieve future successes, we must preserve the strength of our core publishing business, improve efficiency and build new channels through which learners and institutions can access our content more easily,’ he said.
Kolawole thanked shareholders for their continued confidence and support, which he said had helped the company navigate changing economic and industry realities over the years.
Meanwhile, shareholders ratified the appointment of Major-General Daniel Danjuma Kitchener (retd) as an Independent Non-Executive Director of the company.