Seplat Energy has confirmed the currency exchange rate applicable in determining Q3 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 Friday said the exchange rate is 1 USD = N996.75
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 November 9, 2023.
According to the data on FMDQ, NAFEM exchange rate closed at N996.75 per USD on Thursday.
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 September 30, 2023.
It will be paid to shareholders whose names appear in the Register of Members as at the close of business on 10th November 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 9th November 2023 and will be communicated by the Company on 10th November 2023.”
On or around 24th November, 2023, the interim dividend will be paid electronically to shareholders whose names appear on the Register of Members as of 10th November, 2023, and who have completed the e-dividend registration and mandated the Registrar to pay their interim dividend directly into their Bank accounts.
Shareholders who are yet to complete the e-dividend registration are advised to download the Registrar’s E-Dividend Mandate Activation Form, complete and submit to the Registrar or their respective Banks. Holders of shares through depositary interests on the London Stock Exchange are to provide their account details to the Company’s UK depositary, Computershare.
Shareholders with dividend warrants and share certificates that have remained unclaimed or are yet to be presented for payment or returned for validation are advised to complete the e-dividend registration or contact the Registrar.
Seplat reported a profit of N33.85bn for the 9 months ended 30 September, 2023. The reported profit was an improvement on the N1.58bn loss posted for the same period in 2022.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.