Seplat Energy Plc said it has released the applicable exchange rate used in determining its second quarter interim dividend payout to qualified shareholders who wish to receive their dividends in naira.
A corporate disclosure by the company, seen by NewsNGR, said the exchange rate would be N1, 570.99 per dollar.
According to the statement, the exchange rate for the naira amounts payable is the NAFEM closing rate for August 12, 2024.
The statement reads, Seplat Energy PLC a leading Nigerian independent energy company listed on both the Nigerian Exchange Limited and London Stock Exchange, today confirms that the below currency exchange rate is applicable in determining Q2 2024 interim dividend to shareholders that will receive the dividend payment in Naira (NGN):
The exchange rate for the Naira amounts payable is the NAFEM closing rate for August 12, 2024. Exchange Rate 1 USD = 1,570.99 NGN”
Seplat Energy recently announced an interim dividend at a rate of 3 cents (United States Three Cents) per Ordinary Share subject to appropriate Withholding Tax to be paid to SEPLAT’s shareholders whose names appear in the Register of Members as of the close of business on August 13, 2024.
According to the company, the dividend will be paid in Naira and US Dollars only and the default currency for the dividend will depend as follows:
“Shareholders holding their shares on the Nigerian Exchange Limited without a valid Nigerian Certificate for Capital Importation (“CCI”) will be paid their dividend in Naira as the default currency.
Shareholders holding their shares on the Nigerian Exchange Limited with a valid CCI will be paid their dividend in US dollars as the default currency. Evidence of the CCI must be provided to Datamax. However, those shareholders may instead elect to receive their entire dividend payment in Naira (partial elections are not permissible).
And shareholders holding their shares through depository interests on the London Stock Exchange will be paid their dividend in US dollars as the default currency.