Seplat Power units trade charge for remaining and particular dividends totaling US 6.9 cents
Seplat Power Plc has confirmed the trade charge that can apply to its 2024 dividend funds for shareholders opting to obtain their dividends in Naira.
In a disclosure filed with the Nigerian Alternate (NGX) on Might 9 and signed by the corporate’s Chief {Financial} Officer, Eleanor Adaralegbe, Seplat introduced that it’s going to pay dividends utilizing an trade charge of N1,609.6357 per US greenback.
This charge, the corporate said, displays the CBN’s Overseas Alternate Market (NFEM) charge as of Might 8, 2025, and can apply to each the ultimate and particular dividends for the 2024 {financial} yr.
The announcement follows an earlier declaration made in early March 2025, during which Seplat revealed a remaining dividend of US 3.6 cents per abnormal share and a particular dividend of US 3.3 cents for the yr ended December 31, 2024.
As beforehand communicated, the dividend shall be distributed to shareholders listed on the Register of Members as of the shut of enterprise on Might 9, 2025, and shall be topic to relevant withholding tax and regulatory approvals.
What to know
- The full dividend quantities to US 6.9 cents, which interprets to N111.06 per share, totaling N65.35 billion.
- On the share worth of N5,700, the dividend yield stands at 1.95%.
- The ultimate dividend interprets to a payout ratio of 30.5%.
Efficiency abstract for Q1 2025
In its lately revealed {financial} assertion for the interval ended March 31, 2025, Seplat Power reported a 203.97% year-on-year improve in revenue earlier than tax, reaching N314.6 billion ($207 million).
- Retained earnings elevated to N349.6 billion, a 9.62% rise from N319 billion.
Income grew by 356.97% year-on-year, reaching N1.2 trillion ($804 million), in comparison with N268.6 billion in Q1 2024.
The expansion in Seplat’s efficiency was primarily pushed by larger oil and fuel production, together with the mixing of SEPNU, the newly acquired firm.
- Oil production (crude and condensates) greater than tripled, rising by 224% to 9 million barrels, in comparison with 2.8 million barrels in Q1 2024.
- Gasoline production additionally elevated by 50%, rising to 14.9 billion customary cubic ft, up from 10 billion the earlier yr.
- Moreover, the corporate produced 304,000 barrels of pure fuel liquids (NGLs) through the quarter.
General, Seplat’s mixed production of oil, fuel, and NGLs elevated by 164%, reaching 11.8 million barrels of oil equal, in comparison with 4.5 million barrels a yr earlier.
