14.4 C
London
Thursday, May 19, 2022

Seplat declares 2.5 cents interim dividend as PBT rises by 142.7 per cent | The Guardian Nigeria Information


With revenue earlier than deferred tax (PBT) of $62.1million, representing a rise of 142.7 per cent within the first half of 2021 as in opposition to H1’20, Seplat Power Plc, is proposing to pay shareholders an interim dividend per share of two.5 cents to holders of its shares listed on the Nigerian Change and the London Inventory Change.

Highlights of the corporate’s monetary additional confirmed that income went up 32 per cent to $308.8 million in H1’21, from $233.5million in H1’20; earnings earlier than curiosity, taxes, depreciation, and amortization (EBITDA) of $178.9 million; money generated from operations ($125.8 million); money at financial institution ($298.8 million) and internet debt of $456.4 million.

Within the half 12 months interval, Seplat pronounced an interim dividend at a charge of two.5 cents (United States’ Two and Half Cents) per abnormal share, topic to acceptable withholding tax (WHT), to be paid to shareholders whose names seem within the register of members as on the shut of enterprise on August 12, 2021.

Whereas the corporate’s whole rebranding is underway, the Nigerian unbiased power firm listed on each the Nigerian Change and the London Inventory Change introduced its unaudited outcomes for the half 12 months (H1) ended June 30, 2021.

The operational highlights confirmed that working-interest oil and fuel manufacturing was inside steering at 50,786 barrels of oil equal per day (bopd); liquids manufacturing of 30,028 barrels of oil per day (bopd) in H1 2021, fuel manufacturing up 21 % to 120 million customary cubic toes per day (MMscfd); Oben-50 and 51 fuel wells accomplished within the interval and producing; security document prolonged to greater than 20.5 million man hours with out LTI on Seplat-operated western belongings; whereas first liftings from Amukpe-Escravos Pipeline anticipated fourth-quarter (This fall) 2021.

Seplat profitable situation of $650 million 7.75% senior notes to redeem current $350 million 9.25% senior notes and repay $250 million drawn on $350 million Revolving Credit score Facility (RCF); Refinanced $100 million Westport RBL facility; raised a $50 million offtake linked to the RBL in July; and whole capital expenditure of $57.5 million.

Seplat stated within the company motion announcement that the change charge for the Naira or Kilos Sterling quantities payable to shareholders might be decided by reference to the related change charges relevant to the US greenback on August 11 and might be communicated by the Firm on August 12.

On or round September 13, 2021, the interim dividend might be paid electronically to shareholders whose names seem on the Register of Members as at August 12, 2021, and who’ve accomplished the e-dividend registration and mandated the Registrar to pay their interim dividend immediately into their financial institution accounts.

Shareholders holding their shares on the Nigerian Change Restricted with out a legitimate Nigerian Certificates for Capital Importation (CCI) might be paid their dividend in Naira because the default forex. Shareholders holding their shares on the Nigerian Change Restricted with a legitimate CCI might be paid their dividend in US {dollars} because the default forex.

“Nevertheless, these shareholders might as an alternative elect to obtain their total dividend fee in Naira (partial elections aren’t permissible).

“Proof of the CCI have to be offered to Datamax Registrars Restricted; and shareholders holding their shares by depository pursuits on the London Inventory Change might be paid their dividend in US {dollars} because the default forex.

“Nevertheless, these shareholders might as an alternative elect to obtain their total dividend fee in kilos sterling. Partial elections aren’t permissible”, Seplat stated in a July 29 discover signed by Emeka Onwuka Chief Monetary Officer.

“Shareholders who’ve a dividend forex possibility, should make the election to the Firm’s Registrars by August 27, 2021, in any other case the dividend might be paid within the default forex. The election type might be despatched out to the related shareholders and can be discovered on the Firm web site. These shareholders holding their shares on the Nigerian Change Restricted who maintain a legitimate CCI ought to notify SEPLAT’s Nigerian Registrars, DataMax Registrars Restricted (DataMax), of that truth”, the corporate additional stated.



Latest news
Related news

LEAVE A REPLY

Please enter your comment!
Please enter your name here