Seplat Vitality units alternate charge for closing and particular dividends totaling US 6.9 cents 

Seplat Vitality Plc has confirmed the alternate charge that may 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 Could 9 and signed by the corporate’s Chief Monetary Officer, Eleanor Adaralegbe, Seplat introduced that it’s going to pay dividends utilizing an alternate charge of N1,609.6357 per US greenback.

This charge, the corporate said, displays the CBN’s International Alternate Market (NFEM) charge as of Could 8, 2025, and can apply to each the ultimate and particular dividends for the 2024 monetary yr.

The announcement follows an earlier declaration made in early March 2025, during which Seplat revealed a closing dividend of US 3.6 cents per bizarre share and a particular dividend of US 3.3 cents for the yr ended December 31, 2024.

As beforehand communicated, the dividend will probably be distributed to shareholders listed on the Register of Members as of the shut of enterprise on Could 9, 2025, and will probably be topic to relevant withholding tax and regulatory approvals.

What to know 

• The whole 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 not too long ago printed monetary assertion for the interval ended March 31, 2025, Seplat Vitality reported a 203.97% year-on-year enhance 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 greater oil and fuel manufacturing, together with the mixing of SEPNU, the newly acquired firm.

• Oil manufacturing (crude and condensates) greater than tripled, rising by 224% to 9 million barrels, in comparison with 2.8 million barrels in Q1 2024.

• Fuel manufacturing additionally elevated by 50%, rising to 14.9 billion commonplace cubic ft, up from 10 billion the earlier yr.

• Moreover, the corporate produced 304,000 barrels of pure fuel liquids (NGLs) in the course of the quarter.

Total, Seplat’s mixed manufacturing 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.