Seplat Energy will reward shareholders with a final dividend payment of $14 million which translates to $0.025 per common share, the oil and gas company said in a statement Monday and seen by PREMIUM TIMES.
Seplat Energy, which has just acquired all the shallow water assets of one of ExxonMobil’s Nigerian subsidiaries, Mobil Producing Nigeria Unlimited, pays dividends four times a year at quarterly intervals.
The dividend will be subject to withholding tax and shareholder approval and “will be paid to shareholders whose names appear in the membership register at the close of business on May 5, 2022,” it said.
The shareholder register will close on May 6 to allow the company’s registrar to prepare for the final dividend payment around May 25.
“Shareholders who have their shares in the Limited Nigerian Exchange (NGX) without a valid Nigerian Certificate for Capital Importation (“CCI”) will receive their dividend in Naira as the default currency,” it added.
Those holding their shares in NGX and holding a valid CCI will receive their dividend in US dollars, while shareholders holding their shares through London Stock Exchange deposit interest will receive their payment in US dollars.
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“Shareholders who have a dividend currency option must make the election with the Registrars of the Company by May 18, 2022, otherwise the dividend will be paid in the default currency. The election form will also be sent to the relevant shareholders and on the company’s website,” he said.
“Shareholders with share certificates and dividend warrants that have not been claimed or have not yet been presented for payment or returned for validation are encouraged to complete the electronic dividend register or contact the Registrar.”