Seplat Energy Plc has confirmed currency exchange rates 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).
In a document signed by Seplat’s Chief Financial Officer, Emeka Onwuka, seen by Investogist, the exchange rates were stated as follows:
1 USD = 416.55 NGN
1 USD = 0.7976 GBP
The company said 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.”
Seplat Energy announced a final dividend of US$0.025 (2.5 cents) for the 2021 financial year. This translates to N10.38 per ordinary share as per I&E FX Window rate as at Friday 22 February, 2022, the day the dividend was announced.
Read also: List of Dividends announced in 2022, qualification and payment dates
“The closing date for dividend currency election to the Company’s Registrars is 18th May 2022. In the absence of a qualifying dividend currency election by shareholders to the appropriate Registrar, dividends will be paid in their default currency.”
Seplat Energy equity price closed flat at N1,200 per share on the Nigerian Exchange on Thursday. It has remained at that price since 28th April 2022. YTD the share price is up 84.62%.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.