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Seplat Confirms Currency Exchange Rates for Dividend Payment

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Seplat Energy Plc - Investors King

Seplat Energy Plc, a leading Nigerian independent oil and gas company, today confirms that the following currency exchange rates will be applicable in determining the interim dividend for Q3 2021 to any shareholder that qualifies for and has elected to receive the dividend payment in Naira or Sterling (GBP):

Exchange Rate

1 USD = 413.64 NGN
1 USD = 0.7468 GBP

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 12th November 2021.

The closing date for dividend currency election to the Company’s Registrars is 30th November 2021. In the absence of a qualifying dividend currency election by shareholders to the appropriate Registrar, dividends will be paid in their default currency.

Shareholders should refer to the Company’s announcement on 28th October 2021 for definition of default currency and dividend currency election forms can be found on the company website at https://seplatenergy.com/investors/dividend.

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.

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Dividends

Dangote Cement, MTN lead Top Paying Dividend Companies of the Year

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Dangote Cement - Investors King

In total, Nigerian companies paid about N989 billion as dividends in the first 9 months of the year. Dangote Cement was responsible for N272 billion of that amount, with MTN paying N212.7 billion.

The N989 billion paid in dividends showed a 27% increase from the same period in 2020. A record of dividends paid by Nigerian companies who have been publicly quoted is maintained by Nairalytics, with the companies including 30 of some of the most capitalized companies on the stock exchange who had paid dividends in 2020 and the current year.

Some companies pay dividends from their full-year profits while others pay twice in the year, first out of their full-year profits and secondly from their half-year profits. Some dividends are also paid out of retained earnings, in the event where companies do not publicly declare their profits.

The data collected for the companies showed that Dangote Cement and MTN were the leading dividend payers in the year, with the companies paying N272 billion and N212.7 billion respectively. Dangote Cement shareholders did not record any significant increase in their dividend payments, while MTN shareholders saw a 23% increase in dividend payments. No other companies paid up to N100 billion in dividends during the year.

Zenith Bank paid N94.2 billion in dividends, coming in as the third highest paying company during the year. GTCO and BUA Cement rounded up the top five, paying N79.5 billion and N70 billion in dividends respectively.

Stanbic IBTC paid N54 billion in dividends to come in as sixth, while Access Bank and Nestle paid N30.2 billion and N27.5 billion respectively, making seventh and eighth. Lafarge and Seplat rounded up the top 10 dividend payers, paying N24.7 billion and N23.1 billion respectively.

In total, the top ten companies paid a combined N888.1 billion in dividends.

A growth in dividend payment, especially in a year heavily hit by the coronavirus pandemic shows resilience in the financials of some of Nigeria’s largest companies.

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Dividends

Airtel Africa Confirms Default Currency, Options on Currency Election For Interim Dividend

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Airtel Africa - Investors King

Airtel Africa on Tuesday confirmed the default currency and options on currency election for the interim dividend, (recommended by the Board to be 2 cents per ordinary share payable on 10 December 2021 to shareholders on the register at of close of business on 12 November 2021) and the currency exchange rates that will be applicable in determination of the interim dividend payment to any shareholders that qualify for and have elected to receive the interim dividend payment in U.S. dollars, GB pounds or Nigerian naira will be as follows:

Arrangements for Shareholders that hold their shares on the London Stock Exchange (LSE):

• Shareholders that hold their shares on the London Stock Exchange may elect to receive their entire dividend payment in GB Pounds or U.S. dollars.

• Partial elections are not permissible.

• Holders electing to receive a dividend should specify a choice of currency by completing the Currency Election Form and returning this to Computershare Investor Services plc.

• Shareholders holding their shares on the LSE who do not indicate their currency of choice before 26 November 2021 will receive their dividends in U.S. dollars.

• The closing date for the dividend currency election to the Company’s Registrars Computershare Investor Services plc in the UK is 26 November 2021.

• Currency election forms can be obtained by contacting the Company’s Registrars, Computershare Investor Services plc, on the Company’s dedicated telephone line: +44 (0)370 703 0027.

Arrangements for Shareholders that hold their shares on the Nigerian Exchange Limited (NGX):

• Shareholders that hold their shares on NGX may elect to receive their entire dividend payment in Nigerian naira or U.S. dollars.

• Partial elections are not permissible.

• Holders electing to receive a dividend in U.S. dollars should complete the Currency Election Form and return this to Coronation Registrars Limited or email to eforms@coronationregistrars.com

• Shareholders holding their shares on NGX who do not indicate their currency of choice before 26 November 2021 will receive their dividends in Nigerian naira.

• The closing date for the dividend currency election to the Company’s Registrars Coronation Registrars Limited in Nigeria is 26 November 2021.

• Currency election forms can found on the website of the Company’s Registrar at www.coronationregistrars.com or by using this direct link: https://coronationregistrars.com/currency-election-form/

The following currency exchange rate will be applicable in the determination of the interim dividend payment to any shareholders that qualify for and have elected to receive the interim dividend payment:

Exchange Rate

1 U.S. dollar = 414.55 Nigerian naira
1 U.S. dollar = 0.7373 GB pounds

The exchange rate for the Nigerian naira or GB pounds amounts payable was determined by
reference to the exchange rates applicable to the U.S. dollar available on 8 November 2021.

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Dividends/Bonuses Proposed in the Week Ended October 29, 2021

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Dividend - Investors King

Some of the listed companies that reported their financial positions last week also proposed dividend or bonus payments to shareholders. Below are the companies that proposed dividends and bonuses in the week ended October 29, 2021.

LAFARGE AFRICA PLC

Proposed Dividend: ₦1.00
Proposed Bonus: null FOR null
Qualification Date: 11/10/2021
Payment Date: 11/19/2021
Closure of Register Date: 11/11/2021

NESTLE NIGERIA PLC

Proposed Dividend: ₦25.00
Proposed Bonus: null FOR null
Qualification Date: 11/19/2021
Payment Date: 12/6/2021
Closure of Register Date: 11/22/2021

AIICO INSURANCE PLC.

Proposed Dividend: ₦0.00
Proposed Bonus: 4 FOR 3
Qualification Date: 11/23/2021
AGM Date: 11/30/2021
Payment Date: 12/1/2021
Closure of Register Date: 11/24/2021

NIGERIAN BREWERIES PLC

Proposed Dividend: ₦0.40
Proposed Bonus: null FOR null
Qualification Date: 11/19/2021
Payment Date: 12/3/2021
Closure of Register Date: 11/22/2021

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