A Review of the Nigerian Energy Industry

Seplat’s 2018 interim dividend to be based on current exchange rate

*Seplat-Petroleum personnel.

OpeOluwani Akintayo

19 May 2018, Sweetcrude, Lagos –  Seplat Petroleum Development Company Plc has said payment of its 2018 first quarter dividend will be based on current exchange rates.

The firm made this known in a memo to the Nigerian Stock Exchange, NSE, on Friday, seen by SweetcrudeReports.

According to the memo, Seplat said dividend will be paid on the current exchange rate of 1 USD/N305.35, and 1USD/0.7422 GBP: to be paid to only shareholders that qualify for and have received the first quarter 2018 interim dividend payment in naira or GBP.

The memo signed by the Company’s Secretary, Dr. Mirian Kene Kachikwu, also indicated that the exchange rate for naira or pounds sterling amounts payable, was determined by reference to the exchange rates applicable to the US dollar available on May 16, 2018.

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