Seplat Energy Plc is set to disburse a total of N46.2 billion for its 2023 final and special dividend, representing a payout ratio of 57%. This allocation aligns with the company’s net income of N81.3 billion for the 2023 fiscal year.
The exchange rate for the 2023 final and special dividend stands at N1309.88/$, mirroring the closing exchange rate in the Nigerian Autonomous Foreign Exchange Market (NAFEM) on April 25, 2024.
In its final dividend announcement for FY 2023, the conglomerate disclosed a final dividend of 3 US cents per share along with a special dividend of 3 US cents per share, totalling 6 cents per share for the financial year 2023. At the designated exchange rate, this corresponds to N78.6 per ordinary share.
With Seplat’s total outstanding shares amounting to 588 million, the company’s final and special dividend payout for FY 2023 approximates N46.2 billion.