Seplat Energy has confirmed the currency exchange rate applicable in determining Q2 2023 interim dividend to shareholders that will receive the dividend payment in Naira (NGN).
The company in a document published on the Nigerian Exchange on Thursday said the exchange rate is 1 USD = N759.86.
It said the exchange rate for the Naira amounts payable was determined by reference to the exchange rate applicable to the US dollar available on August 16, 2023.
According to the data on FMDQ, NAFEX exchange rate closed at N773.17 per USD on Wednesday.
Seplat Energy had announced an Interim dividend of US3 cents (United States Three Cents) per Ordinary Share of N0.50k each, (subject to appropriate withholding tax, for the period ended June 30, 2023.
It will be paid to shareholders whose names appear in the Register of Members as at the close of business on 17th August 2023.
At the time of announcement, Seplat Energy said “the exchange rate for the Naira amounts payable will be determined by reference to the
relevant exchange rates applicable to the US dollar on 16th August 2023 and will be communicated by the Company on 17th August 2023.”
The interim dividend will on 30th August 2023, be paid electronically to shareholders whose names appear on the Register of Members as of 17th August 2023, and who have completed the e-dividend registration and mandated the Registrar to pay their interim dividend directly into their Bank accounts.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.