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|
|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.