Shareholders of Seplat Energy Plc are set to receive their 2025 final and special dividends using an exchange rate of N1,370.89 to the dollar, as the indigenous energy giant moves ahead with plans to distribute billions in returns to investors later this month.
In a corporate filing submitted to the Nigerian Exchange, the company disclosed that the Central Bank of Nigeria’s official exchange rate as of 14 May 2026 will serve as the basis for converting all dollar-denominated dividend payments into naira.
The payments, according to Seplat, are expected “on or around 29 May 2026” and will be made to shareholders whose names appeared in the company’s register by 15 May 2026, provided they have completed the mandatory e-dividend registration process.
The announcement gives investors more clarity on what they are expected to receive from the company’s full-year 2025 earnings performance, which delivered one of Seplat’s strongest financial outings in recent years.
Dividend Value Climbs Above Previous Year
Seplat’s combined final and special dividend for FY 2025 stands at 8.3 US cents per share, consisting of a final dividend of 5 cents and a special dividend of 3.3 cents.
Using the approved exchange rate of N1,370.89/$1, the payout translates to approximately N113.78 per share for shareholders receiving payment in naira.
The latest distribution slightly exceeds the company’s FY 2024 payout, which totaled 6.9 US cents per share and converted to N111.06 using the exchange rate of N1,609.6/$1 at the time.
With 599.9 million outstanding shares, the total cash distribution is estimated at about N68.26 billion. Analysts expect the payout to be funded from Seplat’s retained earnings, which rose to N342.4 billion in 2025, representing a 9.5 per cent year-on-year increase.
At the company’s current share price of N11,600 on the Nigerian Exchange, the dividend implies a yield of nearly 1 per cent, while the payout ratio stands at about 28.3 per cent of the group’s N241.5 billion net profit for the year.
Strong Revenue Growth Boosted 2025 Earnings
Seplat posted a remarkable financial performance in FY 2025, driven by stronger crude oil production, gas sales growth, and improved operational efficiency across its assets.
Pre-tax profit surged to N755.5 billion, significantly higher than the N394.6 billion recorded in the previous year.
Revenue also climbed sharply to N4.1 trillion from N1.6 trillion, supported largely by crude oil sales which contributed N3.7 trillion. Gas revenues added N279.4 billion, while natural gas liquids generated another N81.7 billion.
The performance further strengthened investor confidence in the company, helping fuel an impressive rally in its stock price.
Q1 2026 Profit Slows Despite Healthy Balance Sheet
Despite the strong full-year showing, Seplat’s first-quarter 2026 earnings reflected a softer start to the new financial year.
The company reported a pre-tax profit of N229.1 billion for Q1 2026, compared with N314.6 billion in the same period of 2025.
The decline was linked mainly to a modest drop in revenue, which slipped from N1.2 trillion to N1.1 trillion year-on-year.
However, Seplat’s balance sheet remained resilient. Retained earnings improved further to N389.1 billion as of Q1 2026, up from N342.4 billion recorded at the end of December 2025, suggesting continued accumulation of profits despite the earnings slowdown.
Fresh Interim Dividend Declared
On the back of its first-quarter performance, Seplat also announced an interim dividend of 5 US cents alongside a special dividend of 4 US cents, bringing the total Q1 2026 shareholder return to 9 US cents per share.
The company has yet to announce the exchange rate that will be used for converting the Q1 2026 dividend into naira.
Seplat noted that only shareholders whose names appear in the register of members as of 5 June 2026 will qualify for the interim payout, which is scheduled for disbursement “on or around 19 June 2026.”
Meanwhile, Seplat’s stock, trading under the ticker SEPLAT, has gained nearly 100 per cent year-to-date on the Nigerian Exchange, underlining sustained investor appetite for energy equities amid strong sector earnings.