KEY POINTS
- Seplat Energy will use a CBN rate of ₦1,370.89/$ to convert its FY2025 dividend, worth about ₦68.26 billion.
- The payout translates to ₦113.78 per share, supported by strong FY2025 profits of ₦755.5 billion pre-tax.
- Despite a Q1 2026 profit dip, retained earnings and interim dividends remain strong, with continued investor returns.
Seplat Energy Plc has confirmed the exchange rate it will use to convert its dollar-denominated dividends for the 2025 financial year, as it prepares to distribute over ₦68 billion to shareholders.
In a disclosure to the Nigerian Exchange (NGX), the company stated that it will apply the Central Bank of Nigeria (CBN) exchange rate of ₦1,370.89 per dollar, as of May 14, 2026, for all dividend conversions and shareholder payouts.
The dividends, which are denominated in US dollars, are scheduled for payment on or around May 29, 2026, to shareholders registered as of May 15, 2026, subject to completion of e-dividend registration requirements.
The company’s FY2025 payout comprises a final dividend of 5 US cents and a special dividend of 3.3 US cents, bringing total distribution to 8.3 US cents per share.
Using the approved exchange rate, this translates to ₦113.78 per share.
Based on Seplat’s 599.94 million outstanding shares, the total dividend payout amounts to approximately ₦68.26 billion.
The distribution will be funded from retained earnings, which stood at ₦342.4 billion at the end of 2025, reflecting a 9.5 percent year-on-year increase.
Strong Financial Performance Drives Higher Payout
The dividend declaration comes on the back of a strong FY2025 financial performance.
The company recorded a pre-tax profit of ₦755.5 billion, significantly higher than the ₦394.6 billion posted in the previous year, driven by stronger revenue and improved operational efficiency.
Net profit for the period stood at ₦241.5 billion, with the dividend payout reflecting a 28.26 percent payout ratio.
At a share price of ₦11,600, the dividend implies a yield of about 0.98 percent.
In the first quarter of 2026, Seplat reported a pre-tax profit of ₦229.1 billion, down from ₦314.6 billion in the same period of 2025.
The decline was largely due to lower revenue, which fell to ₦1.1 trillion from ₦1.2 trillion year-on-year.
Despite the drop in quarterly profit, the company’s retained earnings improved to ₦389.1 billion from ₦342.4 billion in December 2025, indicating continued accumulation of profits.
Seplat also declared an interim dividend of 5 US cents and a special dividend of 4 US cents for the period, totalling 9 US cents per share.
The exchange rate for the Q1 2026 dividend has not yet been disclosed.
However, Seplat confirmed that shareholders whose names appear on the register as of June 5, 2026, will be eligible for the interim payout, which is expected on or around June 19, 2026.
The company’s stock (ticker: SEPLAT) has recorded strong performance, rising nearly 100 percent year-to-date to trade at ₦11,600 per share on the Nigerian Exchange.
