Seplat Energy PLC has announced an interim dividend of N28 billion for the second quarter of 2024, reflecting a substantial increase compared to the previous year. The dividend, equivalent to $0.03 per share or N47.13 per share, is based on an exchange rate of N1570.99/$1 as of August 12, 2024.
This new dividend declaration brings the total payout for the first half of 2024 to N54.5 billion, following a dividend of N26.5 billion for Q1. This represents a 152% increase compared to the N21.6 billion paid in the first half of 2023.
Seplat Energy PLC, which is listed on the London Stock Exchange, will offer shareholders the choice between receiving dividends in U.S. dollars or Nigerian naira. For those opting for naira, a selected exchange rate will apply.
In terms of financial performance, Seplat Energy PLC reported a profit after tax of N68.6 billion for the first half of 2024, leading to a dividend payout ratio of 80%, up from 51.4% in the same period last year.
Since its listing on the Nigerian Stock Exchange (NGX) in 2014, Seplat Energy PLC has distributed over $560 million in dividends, maintaining its reputation for attractive shareholder returns.
