Seplat Energy records N35.4bn profit, declares $.46 dividend
CHIGOZIE AMADI
Seplat Energy, an independent energy company dual-listed on the Nigerian Exchange Ltd. and the London Stock Exchange, has announced an interim dividend of 4.6 U.S. cents per ordinary share, subject to applicable withholding tax.
The company disclosed this through a corporate disclosure through the Nigerian Exchange Ltd. on Monday.
The dividend is to be paid to Seplat Energy’s shareholders whose names appear in the register of members as at the close of business on May 23.
“The disclosure reads “An Interim dividend of US 4.6 cents per ordinary share of N0.50k each, subject to appropriate withholding tax will be paid to shareholders whose names appear in the register of members as at the close of business on May 23, 2025.
“The interim dividend will be paid on or around June 6, 2025, electronically to shareholders whose names appear on the Register of Members as of May 23, 2025.
“It will be paid to those who have completed the e-dividend registration and mandated the Registrar to pay their interim dividend directly into their bank accounts.”
Roger Brown, Chief Executive Officer of Seplat Energy, said the year 2025 started positively for Seplat as the company delivered the business at a significantly enhanced scale.
He said, “I am pleased to report that we are making good progress. It is clear that we can benefit greatly from the combined expertise of our onshore and offshore workforce.
“Production has been strong, showing the benefit of the continuous drilling programme, investment in asset, integrity and the availability of multiple evacuation routes.
“Financial performance was also strong, allowing us to be pro-active in materially reducing gross debt, maintaining low balance sheet leverage, and further strengthening our company as the near term global economic outlook becomes less predictable.
“We remain conservative in our approach, but our confidence in the future trajectory for our business, combined with our strong financial position, means that we are delighted to increase our quarterly dividend to $4.6c/share, 28 per cent increase in our quarterly dividend versus the fourth quarter of 2024.”
Seplat Energy recorded N35.4 billion profit for the first quarter of 2025 as against N2.9 billion reported within the same period under review in 2024.
The company’s revenue soared to N1.227 trillion from N268.6 billion in first quarter of 2024.
The EBITDA also rose from N184.2 billion in 2024 first quarter to N607.6 billion in 2025.
