Announcement • Jul 14
University Press Plc, Annual General Meeting, Sep 24, 2026 University Press Plc, Annual General Meeting, Sep 24, 2026, at 11:00 W. Central Africa Standard Time. Location: kakanfo inn & conference centre, 1 nihinola street, joyce b road, off ring road, ibadan Nigeria New Risk • Jul 03
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 33% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (₦2.03b market cap, or US$1.48m). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (9.9% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (5.5% net profit margin). Revenue is less than US$5m (₦3.9b revenue, or US$2.8m). Declared Dividend • Jul 02
Dividend increased to ₦0.18 Dividend of ₦0.18 is 20% higher than last year. Ex-date: 1st September 2026 Payment date: 24th September 2026 Dividend yield will be 3.8%, which is higher than the industry average of 3.1%. Sustainability & Growth Dividend is covered by earnings (23% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Earnings per share has grown by 28% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. 