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Seplat Announces Currency Exchange Rates for Q3, 2020 Interim Dividend

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Seplat Petroleum Development Company Plc has announced the currency exchange rate applicable in the determination of the third quarter 2020 interim dividend payment to shareholders.

The leading Nigerian independent energy company listed on both the Nigerian Stock Exchange and London Stock Exchange, in a statement released on the Nigerian Stock Exchange, said that “the following currency exchange rates will be applicable in determination of the Q3 2020 interim dividend payment to shareholders that qualify for and have elected to receive the Q3 2020 interim dividend payment in Naira or GBP:

Exchange Rate
1 USD = 385.78 Naira
1 USD = 0.7595 GBP

The exchange rate for the Naira or Pounds Sterling amounts payable was determined by reference to the exchange rates applicable to the US dollar available on 12th November 2020. The Naira rate used is the FMDQ benchmark rate for foreign exchange spot operations in the Investors and Exporters FX Window (NAFEX).

“The closing date for Dividend currency election to the Company’s Registrars is 28th November 2020. In the absence of a qualifying Dividend currency election by shareholders to the appropriate Registrar, dividends will be paid in their default currency.

“Shareholders should refer to the Company’s announcement on 30th October 2020 for definition of default currencies and dividend currency election forms can be found on the Company website at https://seplatpetroleum.com/investors/dividend.”

Source: Naija News

Is a foreign exchange research analyst, contributing author on New York-based Talk Markets and investing.com, with over a decade experience in the global financial markets.