Tuesday, 05 December, 2023


Seplat Energy to pay shareholders $14 million dividend

Seplat Energy will reward shareholders with a final dividend payout of $14 million translating to $0.025 per ordinary share, the oil and gas company said in a disclosure on Monday and seen by PREMIUM TIMES.

Seplat Energy, who just acquired the entire shallow water assets of one of ExxonMobil’s Nigerian subsidiaries, Mobil Producing Nigeria Unlimited, pays dividends four times in a year at quarterly intervals.

The dividend will be subject to appropriate withholding tax and shareholders’ approval and “will be paid to shareholders whose names appear in the register of members as at the close of business on May 5, 2022,” It said.

The register of shareholders will be closed on May 6 to allow the company’s registrar to prepare for the payment of the final dividend on or around May 25.

“Shareholders holding their shares on the Nigerian Exchange Limited (NGX) without a valid Nigerian Certificate for Capital Importation (“CCI”) will be paid their dividend in Naira as the default currency,” it added.

Those holding their shares on the NGX and having a valid CCI will be paid their dividend in U.S. dollars, while shareholders holding their shares via depository interests on the London Stock Exchange will get paid in U.S dollars.

“Shareholders who have a dividend currency option, must make the election to the Company’s Registrars by 18 May 2022, otherwise the dividend will be paid in the default currency. The election form also be found will be sent out to the relevant shareholders and on can the company website,” it said.

“Shareholders with dividend warrants and share certificates that have remained unclaimed or are yet to be presented for payment or returned for validation are advised to complete the e-dividend registration or contact the Registrar.”

Credit: Premium Times


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