Seplat Energy Plc has committed to a progressive dividend policy that will see shareholders receive at least $120 million (N179 billion) in dividends annually.
This is based on its projections following its acquisition of Mobil Producing Nigeria Unlimited (now Seplat Energy Producing Nigeria Unlimited, SEPNU).
Seplat expects this policy to deliver $1 billion in cumulative dividends over the five years, with a guaranteed minimum of $120 million annually.
At its Capital Markets Day on September 18, 2025, the dual-listed energy company announced an increase in its Q3 2025 dividend to 5.0 cents per share, setting a new base level for future quarterly payouts.
This is up from the 4.6 cents per share paid in Q1 and Q2. The revised dividend framework will return 40–50% of free cash flow to shareholders annually between 2026 and 2030.
Seplat’s confidence in the new dividend commitment is backed by improved financial performance.
The company laid out an ambitious five-year roadmap to support its dividend and growth strategy. Key targets include:
CEO’s remarks: Roger Brown, Seplat’s CEO, said:
Seplat also confirmed discussions with the Nigerian National Petroleum Company Limited (NNPC) for a potential sale of a 10% interest in the SEPNU joint venture.
If finalized, Seplat’s stake would reduce to 30%, but it will retain operatorship. Management stressed the dividend policy remains unaffected.
Despite consistent quarterly dividends and an upgraded outlook, Seplat’s share price has lagged.