LAGOS & LONDON — Following a record-breaking financial year, Seplat Energy Plc has announced a significant boost to its dividend distribution. On February 26, 2026, the dual-listed independent energy giant declared a combined payout of 8.3 US cents per share for the final quarter of 2025.
This distribution, which brings the total 2025 dividend to a massive 25.0 US cents per share (+52% YoY), reflects Seplat’s successful transformation into a leading offshore operator and its robust cash generation capabilities.
The Payout Breakdown: Core + Special
Seplat’s Board has opted for a two-tier reward system to share the windfall from its 2025 performance:
- Final (Base) Dividend: 5.0 US cents per ordinary share.
- Special Dividend: 3.3 US cents per ordinary share.
This brings the total Q4 declaration to 8.3 US cents, a 20% increase over the same period last year. The special dividend specifically highlights the “extraordinary” cash flow generated from the company’s newly consolidated offshore assets and the commencement of the ANOH Gas Plant operations.
Financial Context: Why the Pay Hike?
The dividend surge is backed by a stellar FY 2025 report where Seplat effectively “doubled its scale.”
- Revenue: Jumped 144.2% to $2.73 billion (approx. ₦4.14 trillion).
- Production: Averaged 131,506 boepd, a 148% increase from 2024.
- Profit Before Tax: Rose 86.7% to $497.8 million.
- Cash Flow: Generated $1.17 billion from operations, allowing the company to reduce net debt by 25%.
Essential Timelines for Shareholders
To benefit from this payout, investors on both the Nigerian Exchange (NGX) and the London Stock Exchange (LSE) must note the following critical dates:
| Event | Date |
| Ex-Dividend Date (LSE) | May 14, 2026 |
| Qualification Date (NGX/LSE) | May 15, 2026 |
| Exchange Rate Determination | May 14, 2026 |
| Annual General Meeting (AGM) | May 20, 2026 |
| Dividend Payment Date | On or around May 29, 2026 |
Currency Options & “The CCI Advantage”
As a dual-listed entity, Seplat offers flexibility in how dividends are received:
- Default (Naira): Shareholders on the NGX without a Certificate for Capital Importation (CCI) will receive their payment in Naira, calculated at the prevailing exchange rate on May 14.
- Default (USD): Shareholders on the LSE or those on the NGX with a valid CCI will receive their payment in US Dollars.
- Choice: Qualified shareholders can elect to receive the entire payment in either currency by notifying the registrar, Datamax Registrars, before the register closes on May 18.
African Energy Champion
Seplat Energy’s 2025 results mark its arrival as an “African Energy Champion.” By returning $150 million to shareholders in a single year, the company has fulfilled its promise to prioritize capital returns alongside aggressive growth.
With the ANOH plant now online and a multi-year drilling campaign set to begin in Q3 2026, the “Special Dividend” trend may become a recurring feature for investors.
