Seplat Energy DI

Seplat Energy DI Dividend Analysis and Summary

• Dividend declared: Interim US$0.05 per share plus Special US$0.025 per share (total US$0.075 per share), subject to withholding tax
• Ex-dividend date (LSE): 12/11/2025
• Record date (Associated, LSE): 13/11/2025; NGX qualification date: 13/11/2025
• Register close (NGX): 14/11/2025
• Payment date: On or around 28/11/2025
• Currencies: USD and NGN
  • LSE depositary interest holders: default USD
  • NGX holders with valid CCI: default USD (may elect NGN)
  • NGX holders without CCI: default NGN
  • FX rate set by reference to rates on 12/11/2025 and communicated on 13/11/2025

• Sustainability: The US$0.05 interim appears to be the ongoing/base element, while the US$0.025 special is explicitly non-recurring. Without financials in this RNS, coverage cannot be quantified, but separating base from special suggests the company aims to keep the core dividend sustainable and distribute surplus cash opportunistically.
• Growth trajectory: No guidance on future dividends is provided. The presence of a special dividend indicates strong recent cash generation; however, it should not be annualised. Evidence of base dividend growth versus prior periods is not disclosed here.
• Support from financial performance and capital allocation: Declaring both an interim and a special implies confidence in near-term liquidity after capex and operating needs. Payment flexibility (USD/NGN) and a clear timetable support reliable execution, though the announcement does not include EBITDA/FCF metrics or payout guidance to directly assess coverage.