Oil, Energy Stock: ARADEL, SEPLAT to Pay Dividend Midweek
Aradel Holdings and Seplat Energy Plc would be paying a quarterly dividend to their shareholders on Wednesday, according to details from corporate actions for the week.
Both oil and energy companies dividend qualification dates have passed, meaning investors holding these stocks would be eligible to receive payment on the scheduled date.
The corporate action may not necessarily influence their respective stock price directions in the new week, stockbrokers said while responding to MarketForces Africa for comments on what the market should expects.
Despite its unimpressive earnings, Seplat Energy proposed quarterly dividend payments to shareholders. Seplat Energy Plc reported about a 56% year-on-year decline in net profit, which settled at $35.254 million from $79.545 million in the comparable period in 2023.
Still, Seplat Energy increased its quarterly dividend by 20.0% to 3.6 cents per share from Q3’24, backed by an 11% increase in cash to $433.9 million
The company told the regulator and the investing public its adopted N1,681 per US dollar exchange rate applicable in determining Q3 2024 interim dividend to shareholders that will receive the dividend payment in Naira.
Aradel Holdings also announced a quarterly dividend of N8 per share to shareholders after its earnings beat in the third quarter of 2024.
In the third quarter of 2024, Aradel Holdings Plc grew profit after tax by more than 169% to $88.825 million, according to details from the company’s unaudited financial statement released on the Nigerian Exchange (NGX). #Oil, Energy Stock: ARADEL, SEPLAT to Pay Dividend Midweek Naira Plunges on Suboptimal FX Intervention
