Seplat Energy Plc has announced a final dividend of $0.025 per share (2.5 cents) and a special dividend of $0.05/per share.
According to a corporate disclosure by the company seen by Nairametrics, the amount is subject to shareholders’ approval at its scheduled 2023 Annual General Meeting.
The announced dividend is also payable to Seplat’s shareholders whose names appear in the Register of Members as of the close of business on 18th April 2023.
More details: The company announced that the Register of Shareholders will be closed on 19th April 2023 to enable Seplat’s Registrar, Datamax Registrars Limited, to prepare for the payment of the dividend. Meanwhile, it added that the close of business will be 18th April 2023 and the ExDividend date will be 17th April 2023 on the LSE.
Shareholders who have a dividend currency option will need to make the election to the Company’s Registrars by 3rd May 2023, otherwise, the dividends will be paid in the default currency. It added that the election form will be sent out to the relevant shareholders and can also be found on the company website.
Shareholders holding their shares on the NGX who hold a valid CCI will also need to notify Seplat’s Nigerian Registrars, DataMax Registrars Limited (DataMax), of that fact.
Also, the exchange rate for the Naira or Pounds Sterling amounts payable will be determined by reference to the relevant exchange rates applicable to the US dollar on 17th April 2023 and will be communicated by the Company on 18th April 2023.
On or around 10th May 2023, the company stated that dividends will be paid electronically to shareholders whose names appear on the Register of Members as of 18th April 2023, and who have completed the e-dividend registration and mandated the Registrar to pay their dividends directly into their Bank accounts.
Shareholders who are yet to complete the e-dividend registration will have to download the Registrar’s E-Dividend Mandate Activation Form, complete and submit it to the Registrar or their respective Banks.
Dividend currency: it stated that the default currency and options on currency election for the dividends will depend as follows:
- Shareholders holding their shares on the NGX without a valid Nigerian Certificate for Capital Importation will be paid their dividend in Naira as the default currency;
- Shareholders holding their shares on the NGX with a valid CCI will be paid their dividend in US dollars as the default currency. However, those shareholders may instead elect to receive their entire dividend payment in Naira (partial elections are not permissible). Evidence of the CCI must be provided to Datamax Registrars Limited
- Shareholders holding their shares through depository interests on the LSE will be paid their dividends in US dollars as the default currency. However, those shareholders may instead elect to receive their entire dividend payment in pounds sterling. Partial elections are not permissible.
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