Austin Avuru’s Seplat Energy declares $0.025 interim dividend payout for shareholders

Seplat Energy has declared an interim dividend of 2.5 cents ($0.025) per ordinary share of N0.50k.

In its financial statement, the company noted that the dividend is subject to the appropriate withholding tax and will be paid to shareholders whose names appear in the registry of members at the close of business on Aug. 12.

Seplat Energy recorded a profit before tax of $62.1 million for H1 2020. This represents an increase of 142.7 percent compared to the same period last year.

The company recorded double-digit growth in revenue by 32 percent to $308.8 million in H1 2021, from $233.5million in H1 2020.

It further posted earnings before interest, taxes, depreciation, and amortization of $178.9 million, cash generated from operations of $125.8 million, cash at bank of $298.8 million and net debt of $456.4 million.

Formerly named Seplat Petroleum Development, Seplat Energy is a Nigerian independent oil and gas company listed on both the London bourse and the Nigerian Exchange Group, with a strategic focus on the Niger Delta region in Nigeria.

Austin Avuvu is the co-founder of the dual-listed energy company. He holds 60,098,823 ordinary shares and will earn approximately $1.5 million from the declaration.

$0.025 × 60,098,823 =$1,502,471

Seplat Energy has been the 81st most traded stock on the Nigerian Stock Exchange in the past three months.

The company has traded a total volume of 12 million shares in 1,577 transactions valued at N8.27 billion ($20.05 million), with an average of 190,065 traded shares per session between April 29 and Aug. 3.