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). This represents an increase from the 15 kobo paid in the previous year. The dividend payment amounts to approximately N77.65 million and will be subject to withholding tax. The AGM saw various significant developments, including the introduction of the company’s new Secretary and Legal Adviser.
Chairman of UP Plc, Mr Obafunso Ogunkeye, commended the company’s workforce for their resilience amid challenging economic conditions. He noted that 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. Ogunkeye also called for a minute silence for the company’s immediate past managing director, Alhaji Akin Olajide, who passed away last month.
The Managing Director of UP Plc, Mr Samuel Kolawole, expressed optimism about the company’s prospects in the 2026/2027 financial year. He stated that management remains committed to sustaining growth and operational excellence. Kolawole emphasized the need to preserve the strength of the core publishing business, improve efficiency, and build new channels for accessing content.
During the AGM, shareholders ratified the appointment of Major-General Daniel Danjuma Kitchener (retd) as an Independent Non-Executive Director of the company. This move is expected to bring new perspectives and expertise to the company’s board. The AGM witnessed significant participation from shareholders, who approved key decisions and resolutions.
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. He highlighted the importance of shareholder support in driving the company’s growth and success. The Managing Director’s remarks reflected the company’s commitment to transparency and accountability.
The company’s revenue growth of 14 per cent is a significant achievement, especially considering the challenging economic conditions. This growth is a testament to the company’s resilience and adaptability. The revenue increase is expected to have a positive impact on the company’s future prospects and growth trajectory.
UP Plc’s 2026 AGM marked a significant milestone in the company’s history. The approved dividend payment and revenue growth demonstrate the company’s commitment to delivering value to shareholders. The company’s leadership expressed confidence in its future prospects, citing a commitment to sustaining growth and operational excellence.
Key points
- UP Plc’s revenue grew by 14 per cent to N3.895 billion in the 2026 financial year.
- The company’s dividend payment increased to 18 kobo per share from 15 kobo in the previous year.
- Major-General Daniel Danjuma Kitchener (retd) was appointed as an Independent Non-Executive Director of UP Plc.
