Seplat Petroleum Development Company has announced key changes in its dividend payment timeline for the first quarter of the year (Q1, 2021). The changes are in a bid to allow the registrar to facilitate Shareholders’ currency selection for both the final year period ended 2020 and the first quarter of the year (Q1, 2021), which runs concurrently.

According to a notice made available by the firm and sent to the Nigerian Exchange Limited (NGX), key changes in the timeline include a shift in its qualification date, close of register, dividend payment date among others. However, the currency elections date remains unchanged and billed for 2nd of June, 2021. A snippet of the changes in the timeline is succinctly captured below;

Seplat Petroleum Amends Q1 2021 Dividend Timeline, Postpones Payment to Qualified Investors 1

Seplat Petroleum is a leading independent oil and natural gas producer, with a focus on maximising hydrocarbon production and recovery from its existing assets, acquiring and farming into new opportunities in Nigeria. In April 2014, the firm completed the first ever dual listing on both the London Stock Exchange and the Nigerian Stock Exchange.

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Seplat raked in $535 million from an initial public offering (IPO) that ranked as the largest for a sub-Saharan Africa company since 2008 and the second largest ever for a Nigerian company, reflecting high international interest in the stakes of the indigenous firm.

Recently, the firm reported a loss of $80.2 million in FY 2020. It subsequently announced currency exchange rates for proposed final dividend, the exchange rates are;

  • 1 USD = 410.24 Naira
  • 1 USD = 0.7197 GBP.