At its 61st Annual General Meeting in Lagos, Academy Press Plc shareholders endorsed a 15 kobo per share dividend for the 2025 financial year and a bonus issue of one new share for every five held. This marks an increase from the previous 10 kobo dividend and expands the company's issued share capital. The approvals reflect the company's resilient performance amid economic challenges.
Academy Press Plc held its 61st Annual General Meeting in Lagos, where shareholders approved key resolutions to reward investors and bolster the company's equity base. The meeting, dated 17 November 2025, saw endorsement of a 15 kobo per share dividend for the 2025 financial year, up from 10 kobo the prior year. Additionally, shareholders backed a bonus issue, allotting one new ordinary share of 50 kobo for every five held, resulting in 150,200,000 new shares worth N75.6 million drawn from retained earnings. This raises the issued share capital from 756 million to 907 million ordinary shares.
Chairman Babatunde Dabiri addressed the gathering, highlighting the company's performance in 2025 despite a challenging macroeconomic environment. He noted, "Academy Press delivered resilient results" through "disciplined execution of the company’s strategic plans and an increasingly committed workforce." Financials showed revenue at N4.6 billion, a slight rise from N4.5 billion the previous year, while profit before tax jumped to N1.17 billion from N264 million, boosted by extraordinary income.
Dabiri discussed ongoing expansion and diversification efforts, tempered by inflationary pressures, high borrowing costs, and foreign exchange volatility. He expressed confidence in achieving long-term targets and reflected on the company's 60-year history, stating it is entering "a new chapter defined by deeper consolidation, enhanced capability, and sustained value creation for shareholders and stakeholders."
Managing Director Olugbenga Ladipo echoed this optimism, saying Academy Press has "continued to demonstrate strong revenue-generating capacity" and expects to sustain profit before tax growth, aided by asset-related income. He added that the company is pursuing innovation and diversification to remain competitive and strengthen revenue streams.