Lagos: Seplat Energy, an independent energy company listed on both the Nigerian Exchange Ltd. and the London Stock Exchange, has declared an interim dividend of 4.6 U.S. cents per ordinary share, subject to withholding tax. The company made this announcement through a corporate disclosure on the Nigerian Exchange Ltd.
According to News Agency of Nigeria, the dividend will be distributed to Seplat Energy’s shareholders whose names appear in the register of members as of the close of business on May 23, 2025. The payment is set to occur electronically on or around June 6, 2025, for those shareholders who have completed the e-dividend registration and mandated the Registrar for direct bank account transfers.
Roger Brown, the Chief Executive Officer of Seplat Energy, expressed satisfaction with the company’s performance at the beginning of 2025. He highlighted the effective collaboration between the company’s onshore and offshore workforce. Brown noted that strong production levels have been achieved, owing to ongoing drilling programs, investment in asset integrity, and the availability of multiple evacuation routes.
Financially, Seplat Energy’s performance has been robust, enabling the company to reduce gross debt and maintain low balance sheet leverage. Brown stated that the company is cautiously optimistic about future business prospects, supported by its strong financial position. This confidence is reflected in the decision to increase the quarterly dividend by 28% compared to the fourth quarter of 2024.
Seplat Energy reported a N35.4 billion profit for the first quarter of 2025, a significant increase from the N2.9 billion reported in the same period of 2024. The company’s revenue surged to N1.227 trillion, compared to N268.6 billion in the first quarter of 2024. Additionally, the EBITDA rose from N184.2 billion in the first quarter of 2024 to N607.6 billion in 2025.