Seplat Shareholders Approve N113.78 Dividend for 2025
Shareholders of Seplat Energy have approved a total dividend payout of N113.78 per share for the 2025 financial year.
The approval was given at the company’s 13th Annual General Meeting (AGM) held on Wednesday in Lagos. The dividend comprises a final payout of N68.54 and a special dividend of N45.24 per share.
Speaking at the AGM, Chairman of Seplat Energy, Mr Udoma Udo Udoma, said the company had projected delivering one billion dollars in shareholder dividends over the next four to five years.
Udoma said Seplat would continue to sustain investor returns following the integration of Mobil Producing Nigeria Unlimited assets.
He said the company remained on track to meet both its production and shareholder return targets.
“We have committed ourselves to delivering $1 billion in dividends over the next four to five years, and we are well on track,” he said.
Udoma said recent tensions involving Iran had pushed up global oil prices, which had benefited the company in the short term, although its long-term outlook remained resilient even if prices decline.
He said the company had completed both the acquisition and operational integration within the timelines earlier communicated to shareholders.
According to him, Seplat has moved into a single headquarters in Lagos after relinquishing its former office space as part of efforts to reduce operating costs and enhance shareholder returns.
“Our commitment is to return value to shareholders. We are constantly seeking ways to reduce costs and improve profitability,” Udoma said.
Also speaking, the Chief Executive Officer of Seplat Energy, Roger Brown, said the integration had significantly expanded the company’s operational scale and strengthened its balance sheet.
He said the combined business now comprises 11 oil blocks, including seven onshore and four offshore assets, with 48 producing fields and five gas plants.
On reserves, he said the company currently holds about one billion barrels of 2P reserves, evenly split between oil and gas.
He noted that Seplat’s 2C resources stood at approximately 1.5 billion barrels, largely gas-based, bringing total reserves and resources to about 2.5 billion barrels.
According to him, the company has an estimated oil production lifespan of about 20 years at current output levels, while gas reserves are expected to last even longer.
Brown also outlined an ambitious medium-term production target of 200,000 barrels of oil per day (attributable production) and 500,000 barrels per day at joint venture level.
Chief Operating Officer, Mr Samson Ezugworie, said Seplat had set a 2026 production guidance of between 125,000 and 155,000 barrels per day as part of its roadmap toward the longer-term target.
He said operational priorities remain centred on safety, asset integrity and sustainable production growth.
According to him, the company has recorded “zero fatalities and zero lost-time injuries” since the completion of the combined business integration.
A shareholder, Dr Faruk Usman, commended the dividend payout, describing it as a period of reward for investors, and expressed satisfaction with the company’s strong financial performance.
He also commended Seplat’s share price performance, which he said had crossed the N10,000 mark, and commended the board for appointing Mr Tony Elumelu as a director.
He noted that Elumelu’s experience would strengthen governance and value creation.
The National Coordinator of the Pragmatic Shareholders Association of Nigeria, Mrs Bisi Bakare, commended the company’s strong revenue performance despite macroeconomic challenges in the oil and gas sector.
Bakare also welcomed Elumelu to the board, describing him as a strong advocate of shareholder value.
Another shareholder, Mr Oludewa Thorpe, commended the company’s efforts in reducing gas flaring.
The shareholders also elected Mr Larry Ettah as Independent Non-Executive Director, Mr Tony Elumelu as Non-Executive Director, Sen. Udoma Udo Udoma as Independent Non-Executive Director and Mr Christopher Okeke as Independent Non-Executive Director. #Seplat Shareholders Approve N113.78 Dividend for 2025#
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