Seplat Energy PLC, a prominent Nigerian independent energy company listed on the Nigerian Exchange Limited and London Stock Exchange, has released the official currency exchange rates for determining the Q1 2023 interim dividend payments.
The rates will be applicable to shareholders who qualify for and opt to receive the dividend payment in either Naira or Sterling (GBP).
According to the announcement made by Seplat Energy on May 18, 2023, the exchange rates are as follows:
1 USD = 465.04 NGN 1 USD = 0.8017 GBP
The Company determined the Naira and Pound Sterling amounts payable by referencing the exchange rates associated with the US dollar, which were available on May 17, 2023.
To ensure smooth dividend processing, shareholders are required to make their currency election to the Company’s Registrars by June 2, 2023. In case shareholders fail to make a qualifying dividend currency election, dividends will be paid in their default currency.
The definition of the default currency can be found in the Company’s previous announcement on April 27, 2023. Shareholders can access the dividend currency election forms on the official Seplat Energy website at https://seplatenergy.com/investors/dividend.
The dividend payment process reflects Seplat Energy’s commitment to providing transparency and facilitating efficient financial operations for its shareholders. Emeka Onwuka, the Chief Financial Officer of Seplat Energy, signed the announcement, underscoring the Company’s dedication to delivering accurate and timely information.
As Seplat Energy continues to enhance its position in the energy sector, the disclosure of exchange rates for dividend payments in Naira and Sterling further strengthens its relationship with shareholders and ensures a fair and equitable distribution of profits.