Seplat Energy announces interim dividend payment to shareholders

The interim dividend for the half-year ending June 30, 2023, will be paid to shareholders of Seplat Energy Plc at the rate of US3 cents per ordinary share of N0.50k.

According to Nairametrics, this information was gotten from the company’s corporate action statement to the Nigerian Exchange Limited.

The shareholders whose names appear in the Register of Members as of the close of business on August 17, 2023, will receive the interim dividend, which amounts to US3 cents per ordinary share of N0.50k apiece and is subject to the proper withholding tax.

Shareholders holding their shares through depository interests on the London Stock Exchange will be paid their dividend in US dollars as the default currency, and Datamax Registrars Limited requires evidence of the CCI.

According to the company, on August 16, 2023, the relevant exchange rates that applied to US dollars will be used to calculate the exchange rate for the Naira amounts payable. On August 17, 2023, the company will communicate the exchange rate.

Seplat Energy Plc, which is traded on the London Stock Exchange and the Nigerian Exchange Limited, released its unaudited results for the six months that ended on June 30, 2023. 

Revenue increased by 3.8% to N278.3 billion from N219.2 billion over the same period last year.

“A Q2 2023 dividend of US 3 cents per share was also announced by the firm, which was in line with a larger core annual payout of US 12 cents,” according to the company.

In addition, the energy business increased its first-quarter 2023 gross profit from N114.1 billion to N140.6 billion year over year.

Seplat Energy extended the Share Sale and Purchase Agreement for the purchase of ExxonMobil’s equity in Mobil Producing Nigeria Unlimited in order to preserve the transaction, pending the conclusion of specific legal proceedings and the receipt of necessary regulatory approvals. 

In order to achieve the Group’s annual goals, it was highlighted that the full-year production projection was maintained at 45-55 kboepd and that the Capex guidance range was increased to $160 – $190 million (from $160 m).

The Vice-President Finance, Eleanor Adaralegbe, has been appointed CFO-designate and will follow Emeka Onwuka as CFO in 2024, the company said (in accordance with its previously disclosed Board succession plan; 25 April 2023).