Seplat pegs exchange rate for its interim dividend payment at N410.29/$

Seplat Petroleum Development Company, a leading indigenous oil and gas company in Nigeria, has announced that an exchange rate of N410.29/$ will be applicable in the determination of its proposed interim dividend of 2.5 cents

According to a disclosure signed by the Chief Financial Officer of the company, Emeka Onwuka and published on the website of the Nigerian Exchange Group Plc (NGX Plc), the rates will be applicable to any shareholder that qualifies for and has elected to receive the dividend payment in Naira of GBP.

The exchange rates for the naira and the pound sterling amounts payable to shareholders were respectively determined with specific reference to the dollar, given that the company is listed on both the Nigerian Exchange Limited and London Stock Exchange.

Exchange rate

  • 1 USD=410.29 Naira
  • 1 USD=0.7062 GBP

It is pertinent to note that the recent exchange rate announced by the firm for Q1 2021 interim dividend payment, is slightly higher than the FY 2020 figures by 0.01%, translating to a nominal increase of about 5 kobo. As at the period of writing this, CBN’s official exchange rate currently stands at N410.25/$1.

For more information about the disclosure, click HERE

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