University Press reports N1.42bn turnover in 12 months, declares 5 kobo dividend to shareholders

University Press Plc on Tuesday published its Audited Financial Statement for the year ended 31 March 2021. The report revealed year on year decline in the company’s top line and bottom line figures.

A turnover of N1.419 billion was reported, down by 31.28% from N2.066 billion reported the previous year.

Profit after tax was down by 55.10% to N57.106 million from N N127.186 million reported the previous financial year.

Earnings per share (EPS) for the period under review declined to 13 kobo from the EPS of 29 kobo reported the previous year.

At the share price of N1.67, the P.E ratio of University Press stands at 12.62x with earnings yield of 7.93%.

The Directors recommend a dividend of 5 kobo per ordinary share of 50 kobo each amounting to N21,570,475 to be paid to shareholders subject to approval at the Annual General Meeting. The proposed dividend is subject to withholding tax and is payable on 23rd September 2021 to shareholders whose names appear on the Register of Members as at close of business on Tuesday 31st August 2021.

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