Seplat Energy Plc has announced ₦1,358.75/$ as the applicable exchange rate for determining the naira equivalent of its Q1 2026 interim dividend and special dividend payments to eligible shareholders.
The company disclosed that the exchange rate will apply to shareholders who elected to receive their dividend payments in naira rather than US dollars, in line with its established dividend payment procedures.
According to Seplat, the conversion rate was derived from the Nigerian Foreign Exchange Market (NAFEM) rate published by the Central Bank of Nigeria (CBN) on June 4, 2026. The company had earlier indicated that the exchange rate for naira-denominated dividend payments would be determined using the NAFEM rate on that date and subsequently communicated to shareholders.
The announcement follows the declaration of an interim dividend of 5 US cents and a special dividend of 4 US cents per ordinary share for the quarter ended March 31, 2026, bringing the total dividend payout for the period to 9 US cents per share. The dividend is scheduled for payment on or around June 19, 2026, subject to applicable withholding tax requirements.
By fixing the exchange rate at ₦1,358.75/$, shareholders receiving payments in local currency now have certainty regarding the naira value of their dividend entitlements. The development is particularly significant for investors on the Nigerian Exchange who opted for naira settlements.
The company noted that the naira equivalent of both the interim dividend and the special dividend will be calculated using the announced exchange rate, ensuring uniformity in payments to shareholders who elected to receive dividends in the local currency.
