Seplat sets ₦1,358.34/$ rate for Q3 2026 dividend naira payments
Seplat Energy fixed an exchange rate of ₦1,358.34 per dollar for converting Q3 2026 interim and special dividends into naira for shareholders who elected local currency payments. The rate, based on the CBN's Nigerian Foreign Exchange Market (NFEM) rate from November 11, was disclosed in an NGX corporate notice on November 12. A shareholder entitled to $100 dividend will receive ₦135,834 at this rate.
The board declared a Q3 dividend of $0.19 per share ($0.05 core + $0.14 special), bringing year-to-date dividends to $0.40 per share. Cumulative dividends since IPO will exceed $1 billion when paid. Qualification date was November 12; the shareholder register closed November 13. Shareholders should refer to the October 29 announcement for default currency definitions under Seplat's dividend procedures.
This follows Seplat's strong 9M 2026 performance: profit after tax surged 142% to ₦355.55 billion, revenue grew 12.5% to ₦3.78 trillion, and average realised crude price hit $100.4/barrel in Q3. Production rose 7% to 144,999 boepd, with onshore output up 22%. CEO Effiong Okon says the company is on track for the upper half of full-year guidance.
If you hold Seplat shares and elected naira dividends, does the ₦1,358.34 rate meet your expectation, or would you have preferred dollar payment given current forex trends?