By InvestAdvocate
Lagos (INVESTADVOCATE)-First listed Nigerian oil and gas upstream firm, Seplat Petroleum Development Company Plc said on Monday its profit after tax (PAT) for the nine-month period ended September 30, 2015 declined 62 percent to N13.6 billion from N35.4 billion recorded a year ago.
Similarly, profit before tax (PBT) dipped same margin of 62 percent to N13.54 billion from N35.40 billion in the same period of 2014.
In same vein, revenue of Seplat dropped from N92.007 billion posted in 2014 Q3 to N83.004 billion in the review period of 2015; indicating 9.78 percent, Seplat said in a filing with the Nigerian Stock Exchange (NSE).
Despite the loss posted in the nine-month period, the board of the company announce that an interim dividend at the rate of $0.04 per ordinary share will be paid to investors whose name appear in the register of shareholders as at the close of business on October 29, 2015.
The company says the default currency for the dividend will depend on whether the shareholder has a Nigerian Certificate for Capital Importation (“CCI”).
Seplat said shareholders holding their shares on the NSE and do not hold a valid CCI will be paid their dividends in naira.
While those holding their shares on the NSE with a valid CCI will be paid their dividend in US dollars as the default currency.
“However, those shareholders may instead elect to receive their entire dividend payment in naira (partial elections are not permissible),” the company added.
Also, the dual listed Nigerian oil and gas upstream firm disclosed that shareholders holding their shares through depository interests on the London Stock Exchange (LSE) will be paid their dividends in US dollars as their default currency.
It notified that those shareholders who may elect to receive their entire dividend payment in pounds sterling and partial elections would not be allowed.
According to Seplat shareholders who have the option to elect to be paid their dividends in a currency other than their default currency, must make the elections to the company’s registrars by November 9, 2015, “otherwise the dividend will be paid in the default currency,” the company said.
It further disclosed that elections form will be sent out to the relevant shareholders and can also be found on company’s website at Seplatpetroleum.
Seplat advised shareholders holding their shares on the Nigerian bourse who hold a valid CCI to notify its Nigerian registrars, Data Max Registrars Limited, of that fact.
Seplat says the interim dividend of will be paid to shareholders on November 17, 2015.
The company also announced the exchange rate for the naira or pounds sterling amount payable will be determined by reference to relevant exchange rates applicable to US dollar on October 29, 2015 and will be communicated by the company on October 30, 2015.
The dual listed Nigerian oil and gas upstream firm said to enable its Registrar, Data Max Registrars Limited, prepare for the payment of interim dividend, the register of shareholders will be closed in Nigeria on October 30, 2015.
Seplat further advised its shareholders who are yet to provide their account details for the direct credit to furnish same to DataMax.
“Holders of shares through depositary interest on the London Stock exchange should please provide their account details to the Company’s UK depositary, Computershare,” the company added.
