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Seplat Energy Plc to pay shareholders US3 cents interim dividend in 2023  

Shareholders of Seplat Energy Plc will receive an interim dividend of US3 cents per ordinary share of N0.50k each for the half-year ended June 30, 2023. 

This was contained in the company’s corporate action announcement to the Nigerian Exchange Limited (NGX) and obtained by TheTimes. 

The Interim Dividend of US3 cents per ordinary share of N0.50k each is subject to appropriate withholding tax and will be paid to shareholders whose names appear in the Register of Members as at the close of business on 17th August 2023. 

Dividend Currency: According to the company, the dividend will be paid in Naira and US Dollars only and the default currency for the dividend will depend as follows: 

  • “Shareholders holding their shares on the Nigerian Exchange Limited without a valid Nigerian Certificate for Capital Importation (CCI) will be paid their dividend in Naira as the default currency; Shareholders holding their shares on the Nigerian Exchange Limited with a valid CCI will be paid their dividend in US dollars as the default currency.
  • “However, those shareholders may instead elect to receive their entire dividend payment in Naira (partial elections are not permissible).
  • “Evidence of the CCI must be provided to Datamax Registrars Limited, and Shareholders holding their shares through depository interests on the London Stock Exchange will be paid their dividend in US dollars as the default currency”. 

Determination of Exchange Rate: The exchange rate for the Naira amounts payable will be determined by reference to the relevant exchange rates applicable to the US dollar on 16th August 2023 and will be communicated by the Company on 17th August 2023. 

Advice to shareholders: Shareholders who are yet to complete the e-dividend registration are advised to download the Registrar’s E-Dividend Mandate Activation Form, which is also available on the website of the Registrars. 

Holders of shares through depositary interests on the LSE should are also advised to provide their account details to the Company’s UK depositary, Computershare. 

What you should know

Seplat Energy Plc, listed on both the Nigerian Exchange Limited and the London Stock Exchange, announced its unaudited results for the six months ended 30 June 2023, recording a rise in revenue by 3.8% to N278.3 billion from N219.2 billion year-on-year.  

The company also declared a Q2 2023 dividend of US 3 cents per share, which according to the company is in line with a higher core annual dividend of US 12 cents. 

The energy company also grew its 2023 H1 gross profit to N140.6 billion from N114.1 billion year-on-year.  

Seplat Energy extended the Share Sale and Purchase Agreement (SSPA) for the acquisition of ExxonMobil’s share capital of Mobil Producing Nigeria Unlimited (MPNU) to preserve the transaction, pending the resolution of certain legal proceedings and receipt of applicable regulatory approvals; and will continue to work with all parties to achieve a successful outcome. 

It noted that the full-year production guidance was retained at 45-55 kboepd whilst Capex guidance range at $160 – $190 million (previously $160 m) to support the Group’s objectives for the year. 

Following the Company’s previously announced Board succession plan (25 April 2023), it announced that Eleanor Adaralegbe, currently Vice-President Finance, has been appointed CFO-designate and will succeed Emeka Onwuka as CFO in 2024. 


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