Lagos: Shareholders of Seplat Energy have approved a total dividend payout of N113.78 per share for the 2025 financial year. The approval was given at the company’s 13th Annual General Meeting (AGM) held on Wednesday.
According to News Agency of Nigeria, the dividend comprises a final payout of N68.54 and a special dividend of N45.24 per share. Chairman of Seplat Energy, Mr Udoma Udo Udoma, stated that the company projected delivering one billion dollars in shareholder dividends over the next four to five years. Udoma emphasized the company’s commitment to sustaining investor returns following the integration of Mobil Producing Nigeria Unlimited assets, with a focus on meeting both production and shareholder return targets.
Udoma noted that recent global oil price increases, due to tensions involving Iran, had benefited the company in the short term, while its long-term outlook remained stable. The company has completed both acquisition and operational integration within the timelines earlier communicated.
Seplat has moved into a single headquarters in Lagos, relinquishing its former office space as part of cost-reduction efforts to enhance shareholder returns.
Also, Chief Executive Officer Roger Brown highlighted the integration’s impact, significantly expanding the company’s operational scale and strengthening its balance sheet. The combined business now includes 11 oil blocks and a substantial number of producing fields and gas plants. Brown discussed the company’s reserves, which currently hold about one billion barrels of 2P reserves, evenly split between oil and gas, and outlined a medium-term production target.
Chief Operating Officer, Mr Samson Ezugworie, mentioned the company’s 2026 production guidance, focusing on safety, asset integrity, and sustainable production growth. Ezugworie reported that the company has recorded ‘zero fatalities and zero lost-time injuries’ since completing the business integration.
Shareholders, including Dr Faruk Usman, commended the dividend payout and the company’s fin
ancial performance. Usman expressed satisfaction with Seplat’s share price performance and the appointment of Mr Tony Elumelu as a director, highlighting Elumelu’s potential to strengthen governance and value creation.
The National Coordinator of the Pragmatic Shareholders Association of Nigeria, Mrs Bisi Bakare, praised the company’s strong revenue performance despite challenges in the oil and gas sector and welcomed Elumelu to the board. Another shareholder, Mr Oludewa Thorpe, acknowledged the company’s efforts in reducing gas flaring.
The News Agency of Nigeria reports that shareholders also elected Mr Larry Ettah as Independent Non-Executive Director and Mr Tony Elumelu as Non-Executive Director.