Seplat Energy Plc on Thursday proposed a final and special dividend rate of three per cent per ordinary share of 50k each, respectively, for its shareholders, payable April 26.

Seplat CFO Emeka Onwuka stated this in a notification sent to the Nigerian Exchange Ltd (NGX) in Lagos.

Mr Onwuka stated that the dividend payment of the listed company on both the NGX and London Stock Exchange is subject to appropriate withholding tax and shareholders’ approval at the annual general meeting held for the year.

He stated that the dividend is payable to company shareholders whose names appear in the Register of Members at the close of business on April 26.

According to him, Datamax Registrars Ltd. (DataMax) prepared the register to pay the dividends, and the register of shareholders will be closed on April 29.

The financial officer noted that on the LSE, the associated record date would be April 26, and the Ex-Dividend date would be April 25.

Mr Onwuka stated that the dividend would only be paid in naira and US dollars.

“Shareholders holding their shares on the NGX without a valid Nigerian Certificate for Capital Importation (CCI) will be paid their dividend in naira as the default currency.

“Shareholders holding their shares on the NGX with a valid CCI will be paid their dividend in US dollars as the default currency. Evidence of the CCI must be provided to Datamax. However, those shareholders may instead elect to receive their entire dividend payment in naira (partial elections are not permissible).

“Shareholders holding their shares through depository interests on the London Stock Exchange will be paid their dividend in US dollars as the default currency,” he said.

According to him, the shareholders holding their shares on the NGX with a valid CCI should notify DataMax.

He urged those who hold a valid CCI but wish to receive their dividends in naira also to inform Datamax and complete an e-mandate form, which can be downloaded from the DataMax website.

“The exchange rate for the naira amount payable will be determined by reference to the relevant exchange rates applicable to the US dollar on April 25 and will be communicated by the company on April 26. On or around May 29, the dividends will be paid electronically to shareholders whose names appear on the Register of Members as of April 26.

“Also, to those who have completed the e-dividend registration and mandated the Registrar to pay their dividend directly into their bank accounts,” the CFO explained.

(NAN)