Seplat Energy Plc has declared a final dividend of US5 cents and a special dividend of US3.3 cents per ordinary share for the year ended December 31, 2025 following a record financial performance that saw revenue rise 144.2 percent year-on-year to $2.73 billion.
The dividend announcement, made on February 26, 2026, brings the total dividend declared for 2025 to 25 US cents per share, equivalent to approximately $150 million, representing a 52 percent increase compared to 2024.
Strong 2025 Financial Performance
Seplat Energy’s audited results for 2025 showed significant growth across key financial metrics. Adjusted EBITDA rose 137 percent to $1.28 billion from $539 million in 2024, while operating profit increased 106.7 percent to $675.2 million.
Profit before tax stood at $497.8 million, up 86.7 percent year-on-year. Cash generated from operations surged 276 percent to $1.17 billion, reflecting stronger scale and improved operational efficiency following full-year consolidation of offshore assets.
Net debt declined 25 percent to $673.3 million at year-end 2025, reducing the Net Debt-to-EBITDA ratio to 0.53x and reinforcing the company’s balance sheet strength.
Group production averaged 131,506 barrels of oil equivalent per day (boepd), up 148 percent from 2024. The increase was driven by offshore consolidation, improved onshore reliability, and a successful idle well restoration programme.
Dividend Details and Key Dates
The final dividend of US5 cents and special dividend of US3.3 cents per share will be paid to shareholders whose names appear in the Register of Members at the close of business on May 15, 2026.
On the Nigerian Exchange Limited, the qualification date is May 15, 2026, while the register will close on May 18, 2026.
For shareholders on the London Stock Exchange, the ex-dividend date is May 14, 2026, with the associated record date set for May 15, 2026.
The dividend payment date is scheduled for on or around May 29, 2026.
Dividend Currency Structure
Seplat Energy stated that dividends will be paid in Naira and US Dollars only. Shareholders holding shares on the NGX without a valid Nigerian Certificate for Capital Importation (CCI) will receive payment in Naira by default.
Shareholders with a valid CCI may receive payment in US Dollars, subject to providing evidence to Datamax Registrars Limited, or elect to receive payment in Naira. Shareholders holding shares through depositary interests on the London Stock Exchange will receive payment in US Dollars by default.
The exchange rate for Naira payments will be determined based on the applicable US dollar rate on May 14, 2026, and communicated on May 15, 2026.
2026 Outlook
Seplat Energy has guided 2026 production between 135,000 and 155,000 boepd, representing approximately 10 percent growth at the midpoint.
Gas production is expected to increase 30 percent year-on-year, supported by contributions from the ANOH Gas Plant and progress on the Oso-BRT Phase 1 project.
Capital expenditure guidance for 2026 is set between $360 million and $440 million, with plans to drill 17 new wells.
Chief Financial Officer Eleanor Adaralegbe authorized the dividend announcement on behalf of the company.
Seplat Energy’s Annual General Meeting is scheduled to hold on May 20, 2026.
With strong cash generation, improved leverage metrics, and increased shareholder returns, the company stated it remains on track toward its long-term objective of delivering $1 billion in cumulative returns to shareholders by 2030.
