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Seplat mulls $0.05 final dividend for Full Year 2019

Lagos-headquartered transnational oil and gas firm, Seplat Petroleum Development Company Plc, Friday announced a final dividend of $0.05 for Full Year 2019 subject to shareholders’ approval at the next Annual General Meeting (AGM).

Bringing the total dividend declared for FY2019 to $0.10, this feat marks the second time in the 2019 financial year when the oil exploration company would reward its shareholders having similarly announced a $0.05 interim dividend last October.

According to Seplat’s board, the company’s FY2019 financial results would be made public through the Nigerian Stock Exchange (NSE) tomorrow, Monday 23rd March 2020.

Seplat’s aspiration to expand its business frontiers internationally received monumental boost when, last December, it completed a $320 million takeover of Aberdeen-based Eland Oil and Gas Plc, via a bridge facility refinancing deal.

Alongside other benefits, the deal conferred on the company ownership of Oil and Mining Lease (OML) 40 in Opuama Field, mangrove Niger Delta.

Without outstanding shares numbering about 588.445 million, the Earnings Per Share of Seplat (EPS) currently stands at 0.43.

It Price to Earnings ratio is 3.46 while its dividend yield is 7.55%.

READ ALSO: NASCON proposes N0.40 dividend per share for Full Year 2019

Listed on the NSE and the London Stock Exchange (LSE), Seplat currently trades on the floors of both exchanges at N544.50 and £46.10 respectively.

Earnings Per Share is the profit that each unit of a company’s ordinary shares  yields  during a particular period. As a metric used for investing decisions, it is simply calculated by dividing the Profit After Tax by the company’s total outstanding shares.  Increase in a company’s EPS often reflects an improvement in its bottom-line while a fall, on the other hand, indicates a declining profit.

Ronald Adamolekun

Ronald Adamolekun is a creative writer with a mixed bag of experience in fields as diverse as data journalism, financial reporting and editing.
Ronald Adamolekun

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Ronald Adamolekun

Ronald Adamolekun is a creative writer with a mixed bag of experience in fields as diverse as data journalism, financial reporting and editing.

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