Academy Press Plc has secured shareholder approval to pay a dividend of 15 kobo per share for the 2025 financial year, representing a significant increase from the 10 kobo declared in the previous year.

The decision was one of the major resolutions adopted at the company’s 61st Annual General Meeting held in Lagos, where shareholders also endorsed a bonus issue of one new share for every five held.

The bonus allotment will translate into the creation of 150,200,000 ordinary shares of 50 kobo each, amounting to N75.6 million to be drawn from the company’s retained earnings.

With the approvals, the company’s issued share capital has expanded from 756 million to 907 million ordinary shares, strengthening its equity base and aligning with its long-term capital structure objectives.

The move reflects management’s strategic intent to balance shareholder reward with the company’s future financial requirements. At the meeting, the Chairman of Academy Press, Babatunde Dabiri, outlined the company’s performance trajectory for the 2025 financial year, noting that Academy Press delivered resilient results despite operating in a challenging macroeconomic environment.

He highlighted that disciplined execution of the company’s strategic plans and an increasingly committed workforce contributed significantly to the year’s positive outcomes.

The company posted revenue of N4.6 billion, a slight improvement from the N4.5 billion recorded the previous year. Profit before tax surged to N1.17 billion from N264 million, driven largely by extraordinary income earned during the period.

Dabiri explained that Academy Press is steadily advancing its expansion and diversification initiatives, although the timing of some projects has been affected by inflationary pressures, high borrowing costs, and volatility in foreign exchange markets. Nonetheless, he expressed confidence in the company’s ability to meet its long-term targets.

On the company’s 60-year journey, Dabiri said that Academy Press is entering a new chapter defined by deeper consolidation, enhanced capability, and sustained value creation for shareholders and stakeholders.He stressed that the lessons and experience accumulated over six decades would serve as a foundation for another era of growth.

Managing Director Olugbenga Ladipo also commented on the company’s performance outlook, noting that Academy Press has continued to demonstrate strong revenue-generating capacity.

He stated that the company expects to maintain its growth in profit before tax, supported in part by gains from asset-related income. Ladipo added that the organisation is pursuing innovation and diversification across its operations to remain competitive and strengthen its revenue streams in the years ahead.