Seplat Energy pegs exchange rate for its final dividend payment at N416.55/$

Seplat Energy Plc has confirmed the currency exchange rate applicable in determining the final dividend for 2021 to be paid to shareholders who qualify and have elected to receive dividend payment in Naira or Sterling (GBP).

This was disclosed in a notice filed with the Nigerian Exchange Group (NGX) and signed by the company’s secretary, Emeka Onwuka.

According to the disclosure, the exchange rate for dividend payment in Naira and Sterling is 416.55 NGN and 0.7976 GBP, respectively, to 1 USD. These exchange rates were determined by reference to rates applicable to the US Dollar as at April 29th, 2022.

The disclosure states, “Seplat Energy PLC (“Seplat” or the “Company”), a leading Nigerian independent energy company listed on both the Nigerian Exchange Limited and London Stock Exchange, today confirms that the following currency exchange rates will be applicable in determining the final dividend for 2021 to any shareholder that qualifies for and has elected to receive the dividend payment in Naira or Sterling (GBP)”.

The exchange rate for the Naira or Pound Sterling amounts payable was determined by reference to the exchange rates applicable to the US dollar available on 29th April 2022”.

Exchange Rate

  • 1 USD = 416.55 NGN
  • 1 USD = 0.7976 GBP

In addition, the deadline for dividend currency election to the company’s registrars is May 18, 2022. Shareholders who do not fill in the qualifying dividend currency election form will be paid in the default currency.

What you should know

  • On February 28th 2022, Seplat Energy Plc announced the final dividend payment of $0.025 cents per ordinary share of N0.50kobo each to shareholders whose names appear in the Register of Members as at May 6th, 2022, which is the qualification date.
  • The interim dividend will be paid electronically on May 25, 2022, to shareholders who have completed the e-dividend registration and mandated the Registrar to pay their final dividend directly into their Bank accounts.

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