Shareholders of Academy Press Plc have given their overwhelming approval for a generous dividend payout and bonus share issuance during the company's recent annual gathering, marking a significant improvement in shareholder rewards compared to previous years.
Major Shareholder Approvals
During the 61st Annual General Meeting held in Lagos, investors endorsed the payment of 15 kobo per share as dividend for the 2025 financial year. This represents a substantial 50% increase from the 10 kobo dividend declared in the previous financial period.
In addition to the cash distribution, shareholders also approved a bonus issue of one new share for every five shares currently held. This corporate action will result in the creation of 150,200,000 ordinary shares of 50 kobo each, with the total value amounting to N75.6 million to be sourced from the company's retained earnings.
Expanded Capital Base and Strategic Objectives
The successful implementation of these resolutions has significantly strengthened Academy Press's financial structure. The company's issued share capital has now expanded from 756 million to 907 million ordinary shares, substantially enhancing its equity base.
This strategic move aligns with the company's long-term capital structure objectives and reflects management's careful balancing act between rewarding loyal shareholders and maintaining sufficient resources for future growth requirements.
Resilient Financial Performance
Chairman Babatunde Dabiri presented the company's performance trajectory for the 2025 financial year, highlighting Academy Press's ability to deliver resilient results despite operating in a challenging macroeconomic environment.
The company reported revenue of N4.6 billion, showing a slight improvement from the N4.5 billion recorded in the previous year. More impressively, profit before tax surged to N1.17 billion from N264 million, largely driven by extraordinary income earned during the period.
Dabiri credited this strong performance to the disciplined execution of strategic plans and the dedication of the company's workforce, both of which contributed significantly to the positive outcomes.
Future Growth Trajectory
Despite facing headwinds from inflationary pressures, high borrowing costs, and foreign exchange market volatility, Academy Press continues to advance its expansion and diversification initiatives. The chairman expressed confidence in the company's ability to meet its long-term targets.
Managing Director Olugbenga Ladipo reinforced this optimistic outlook, noting that the company has consistently demonstrated strong revenue-generating capacity. He indicated that Academy Press expects to maintain its growth in profit before tax, supported in part by gains from asset-related income.
As Academy Press marks its 60-year journey, the company enters a new chapter focused on deeper consolidation, enhanced capability, and sustained value creation for all stakeholders, building on six decades of accumulated experience and lessons.
