Educational Development (EDUC) Declares $0.09 Quarterly Dividend; Announces Record Oct. Revenue

Educational Development (NASDAQ: EDUC) declared a quarterly dividend of $0.09 per share, or $0.36 annualized.

The dividend will be payable on December 18, 2015, to stockholders of record on December 11, 2015, with an ex-dividend date of December 9, 2015.

The annual yield on the dividend is 3.1 percent.

The company also announced record net revenues for the month of October, 2015, of $8,515,000 compared to $3,627,100 for October last year, an increase of 136%. Usborne Books & More (UBAM) led the way with $7,553,200 compared to $2,563,800 for October last year, an increase of 195%. The EDC Publishing Division sales were off due to timing differences from when orders are received from customers.

Mr. White states that preliminary, unaudited results for September and October indicate a significant improvement in operational margins which resulted from the increased net revenue and cost saving programs previously implemented. The increase in UBAM's net revenue was also due to 10,000 new sales associates joining the organization from June 2015 through October 30th, 2015, which now number over 16,000.

The increase in net revenues has continued and the Company expects another record month in excess of $10,000,000 for the month of November 30, 2015, which would result in net revenues for the third quarter ending November 30th, 2015, in excess of $24,000,000. Preliminary results indicate the quarter will produce net earnings of $0.37-0.40 cents per share, which compares to the same quarter last year of net revenues $10,936.700 and earnings per share of $0.13 cents per share.

For a dividend history and other dividend-related data on Educational Development (EDUC) click here.

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