8-K

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                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT

     PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): May 26, 2005

                       EDUCATIONAL DEVELOPMENT CORPORATION
             (Exact name of registrant as specified in its charter)

                         Commission file number: 0-4957

                 Delaware                                    73-0750007
     (State or other jurisdiction of                      (I.R.S. Employer
      incorporation or organization)                    Identification No.)

                10302 East 55th Place, Tulsa, Oklahoma 74146-6515
              (Address of principal executive offices and Zip Code)

                                 (918) 622-4522
              (Registrant's telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):

[ ]  Written communications pursuant to Rule 425 under the Securities
     Act (17 CFR 230.425)

[ ]  Soliciting material pursuant to Rule 14a-12 under the Exchange
     Act (17 CFR 240.14a-12)

[ ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the
     Exchange Act (17 CFR 240.14d-2(b))

[ ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the
     Exchange Act (17 CFR 240.13e-4(c))

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ITEM 2.02     RESULTS OF OPERATIONS AND FINANCIAL CONDITION

              On May 26, 2005, Educational Development Corporation, announced
via press release, annual earnings and increases dividend 25%. A copy of the
press release is attached hereto.

ITEM 9.01     FINANCIAL STATEMENTS AND EXHIBITS

      (c)     EXHIBITS

                  99.1 Press release dated as of May 26, 2005



                                   SIGNATURES

              Pursuant to the requirements of the Securities Exchange Act of
1934, the Registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.

                                      Educational Development Corporation

                                      By:  /s/ Randall W. White
                                           -------------------------------------
                                           Randall W. White
                                           President and Chief Executive Officer

Date:  May 26, 2005



                                  EXHIBIT INDEX

EXHIBIT
NUMBER        DESCRIPTION
- -------       --------------------------------------
*99.1         Press release dated as of May 26, 2005

- ----------
*Filed herewith.

EX-99.1

                                                                    Exhibit 99.1

   EDUCATIONAL DEVELOPMENT CORPORATION ANNOUNCES ANNUAL EARNINGS AND INCREASES
                                  DIVIDEND 25%

    TULSA, Okla., May 26 /PRNewswire-FirstCall/ -- Educational Development
Corporation (Nasdaq: EDUC) reported today record earnings for its fiscal year
ended February 28, 2005.  The Company announced net revenues of $31,650,779
compared with $31,127,268 for the comparable period last year.  The Company
reported net earnings of $2,406,074 compared with net earnings of $2,373,450
for the previous year and basic earnings per share of $0.62 a share versus
$0.60 for the same period a year ago.

    The Company has elected to early adopt Statement of Financial Accounting
Standards No. 123 (Revised 2004), "Share-Based Payment."  Early adoption is
encouraged by the FASB.  The Company has decided to adopt Statement 123R on
the modified retrospective application method to all prior years for which
Statement 123 was effective.  For the Company, this begins with its fiscal
year ended February 28, 1997.  As a result of the early adoption, the Company
has applied for a fifteen-day extension in which to file its Form 10-K and
will file the Form 10-K on or before June 13, 2005.

    The Company announces that it will pay a $0.15 per share annual dividend
on June 10, 2005 to shareholders of record June 3, 2005.  This represents a
25% increase over last year's dividend.

    Educational Development Corporation sells the Usborne line of children's
books through its multi-level sales organization, through 5,100 retail stores
and over the Internet.  The Company offers over 1,400 different titles for
children of all ages.

                                   February 28,     February 29,
                                       2005             2004
                                  --------------   --------------
Revenues
  Gross Sales                     $   41,361,612   $   40,940,822
  Less discounts & allowances        (11,324,165)     (11,424,127)
  Transportation Revenue               1,613,332        1,610,573
    Net Revenues                  $   31,650,779   $   31,127,268

Pretax earnings                   $    3,885,074   $    3,832,450
Income taxes                           1,479,000        1,459,000

Net earnings                      $    2,406,074   $    2,373,450

Basic earnings per share          $          .62   $          .60
Diluted earnings per share        $          .59   $          .55

Weighted Average Number of
 Common and Common Equivalent
 Shares Outstanding:
  Basic                                3,902,075        3,948,193
  Diluted                              4,088,130        4,293,802

SOURCE  Educational Development Corporation
    -0-                             05/26/2005
    /CONTACT:  Randall White, President of Educational Development
Corporation, +1-918-622-4522/
    /Web site:  http://www.edcpub.com /