Seplat sets N1,537.09 exchange rate for $67.7m Q2 dividend

Seplat Energy Plc has fixed an exchange rate of N1,537.09 per US dollar for calculating its Q2 2025 interim dividend to shareholders. This was disclosed in a notice filed with the Nigerian Exchange and signed by Eleanor Adaralegbe, the company’s Chief Financial Officer. According to Seplat, the rate applies to shareholders receiving their dividend in […]

Seplat Energy Plc has fixed an exchange rate of N1,537.09 per US dollar for calculating its Q2 2025 interim dividend to shareholders.

This was disclosed in a notice filed with the Nigerian Exchange and signed by Eleanor Adaralegbe, the company’s Chief Financial Officer.

According to Seplat, the rate applies to shareholders receiving their dividend in Naira and is based on the Central Bank of Nigeria’s NFEM rate of August 12, 2025.

For the quarter, Seplat declared a dividend of US 4.6 cents per ordinary share of 50 kobo each, payable on August 28, 2025.

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 This equates to a total payout of $67.7 million, a 28% increase from the $53 million paid in the first half of 2024.

The announcement follows a Q2 performance, during which Seplat posted a pre-tax profit of N139.4 billion.

It would be recalled that Seplat Energy Plc recorded a revenue of N2.167 trillion for the period from N575.1 billion reported in the same period last year.

Its gross profit soared to N751.2 billion from N247.5 billion Year-on-Year (YoY).

Cash generated from its operations for the period grew to N1.188 trillion from N308.2 billion Year-on-Year whilst operating profit rose to N601.2 billion from N285.2 billion Year-on-Year.

The energy company delivered strong production which firmly underpins FY2025 guidance; with earnings before interest, taxes, depreciation, and amortisation (EBITDA) for half-year hitting N1.139 trillion for the period, representing a rise from N364.5 billion recorded in 2024 H1.

Production for the period averaged 134,492 boepd up 178 percent from 6M 2024 (48,407 boepd), above the midpoint of 2025 guidance (120 – 140 kboepd), and approximately 10 percent higher than pro-forma production in 6M 2024. Working interest oil production reached 100,327 bopd in 6M 2025.