Seplat Petroleum Development Company postpones Q1 2021 dividend payment date.

Seplat Petroleum Development Company has announced the amendment in its Q1 2021 dividend payment timeline.

This is according to a disclosure signed by the firm’s Chief Financial Officer, Emeka Onwuka and seen by Nairametrics. Key changes in the timeline include;

  • A shift of the qualification date from 12th to 26th of May, 2021.
  • Register of members will hence be closed on the 27th of May, from an initial date of 13th of May, 2021.
  • The proposed Q1 2021 dividend of US 2.5cents will now be paid on the 10th of June, from an initial date of 6th of June, 2021.
  • However, currency elections can only be made on the 2nd of June, 2021.

Why the change?

According to the disclosure, the key dates for the dividend was amended to allow the registrar facilitate Shareholders’ currency selection for the two dividends (FY 2020 and Q1 2021) which is running concurrently.

What you should know:

  • Recall that Seplat Petroleum had earlier announced currency exchange rates for proposed final dividend in FY 2020.
  • The firm had reported a 2020 FY loss of $80.2 million.

For more information about the changes in the dividend timeline, click HERE.

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