Seplat Energy Plc said it has announced the applicable exchange rate used in determining its interim dividend payout to qualified shareholders that wish to receive their dividends in the naira or pound sterling.
Findings by BusinessDay showed Seplat energy said the exchange rate would be N443.80 per $1 and £0.8732 per $1, respectively.
The exchange rates for the dividend payouts were determined by reference to the applicable exchange rates applicable to the US dollar on November 9, 2022.
The last day for shareholders to decide which currency they wish to receive their dividends is November 24, 2022. Shareholders are to inform Seplat’s registrars about their decision on or before November 24. Part of the statement by Seplat said.
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It added, “In the absence of a qualifying dividend currency election by shareholders to the appropriate registrar, dividends will be paid in shareholders’ default currency. Shareholders should refer to the Company’s announcement on October 27, 2022, for the definition of default currency and dividend currency election forms can be found on the company website at https://seplatenergy.com/investors/dividend.”
Recall that the company had on October 27, 2022, announced an interim dividend at a rate of $2.5 per share. The company said the dividend is subject to withholding tax and would be paid out on December 6, 2022, to shareholders whose names appear in the register of members as of November 10, 2022.
