By InvestAdvocate

Lagos (INVESTADVOCATE)-First listed Nigerian oil and gas upstream firm, Seplat Petroleum Development Company Plc (SEPLAT) will this morning hold its second annual general meeting (AGM) in Lagos Nigeria to approve $0.15 per share dividend payout to investors of the company.

The company will consider and if thought fit, to pass the following resolutions, which will be proposed as ordinary resolutions, declare a dividend recommended by the board of directors of the company in respect of the financial year ended on 31 December 2014.

According to SEPLAT,  it will pay shareholders that qualify for and have elected to receive the 2014 final dividend payment in naira or pounds sterling at N196.50/$1 and $1/£0.6375.

Other businesses to be transacted at the AGM include receiving the company’s annual financial statements for the financial year ended 31 December 2014, together with the directors’ report, the audit committee report and the auditors’ report on those accounts., to reappoint Ernst & Young Nigeria as its auditors from the conclusion of the meeting until the conclusion of the next general meeting of the company at which Seplat’s annual accounts are laid.

Also, at the AGM, the directors of the company will be authorised to determine the auditors’ remuneration, re-electing those directors of Seplat who are eligible for retirement by rotation and electing members of the audit committee.

At the close of business on Monday at the Nigerian bourse, share price of the first listed Nigerian oil and gas upstream firm climbed up 2.07 percent to N345.00 from N338.00 recorded last Friday gaining N7.00 per share.

( The headline was corrected to read 15 US Cents and not 9 US Cents)