Seplat Pegs Exchange Rates for Q1 2022 Interim Dividend

In a notice filed with the Nigerian Exchange Limited (NGX) on Monday, Seplat Energy Plc has announced the exchange rates it has approved for the payment of first quarter interim dividend to its shareholders.

The filing, signed by Emeka Onwuka, its Chief Financial Officer, pegged the benchmark rate at N418.77 and 0.7920 British Pound Sterling to a dollar.

What the Seplat is Saying:

“Seplat, a leading Nigerian independent energy company listed on both the Nigerian Exchange Limited and London Stock Exchange, today confirms that the following currency exchange rates will be applicable in determining the Q1 2022 interim dividend to any shareholder that qualifies for and has elected to receive the dividend payment in Naira or Sterling (GBP):

Exchange Rate:

• 1 USD = 418.77 NGN
• 1 USD = 0.7920 GBP

“The exchange rate for the Naira or Pound Sterling amounts payable was determined by reference to the exchange rates applicable to the US dollar available on 27th May 2022. The closing date for dividend currency election to the Company’s Registrars is 15th June 2022.

“In the absence of a qualifying dividend currency election by shareholders to the appropriate Registrar, dividends will be paid in their default currency. Shareholders should refer to the Company’s announcement on 28th April 2022 for definition of default currency and dividend currency election forms can be found on the company website.”