Seplat declares a Q3 dividend of $0.05

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Seplat Petroleum Development Company Plc, a leading Nigerian independent energy company listed on both the Nigerian Stock Exchange and the London Stock Exchange, has declared a dividend of 0.05 US cents.

The following are the details related to the dividend:

Financial period  Q3 30/09/2020
Announcement date 30/10/2020
Record date 13/11/2020
Payment date 07/12/2020
Dividend amount per share 0.05 US cents

 

Despite the jump in crude output, Seplat’s turnover fell 22% to $388 million in 9M’20, as average realised oil price declined 40% y/y to $39/bbl. Additionally, an asset impairment expense of $158 million dragged the indigenous oil producer to a loss of $96 million for the nine-month period. A major highlight of the 9M results was the net income of $14 million reported in Q3, implying an improvement from losses recorded in the previous quarters of the year.

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