By Dipo Olowookere
Shareholders of leading indigenous oil firm, Seplat Petroleum Development Company, will receive cash reward from the company for the financial year ended December 31, 2019.
This is because the board of the company listed on both the Nigerian Stock Exchange (NSE) and the London Stock Exchange (LSE) has proposed to pay a final dividend of $0.05 (approximately N18) for each unit of the company’s shares.
On Thursday, March 19, 2020, the board held a meeting, where issues concerning the dividend payment and the financial statements were discussed.
Informing the investing community on outcome of yesterday’s gathering, Seplat board said the dividend payment was still subject to approval of the shareholders.
“In line with Section 1.1 of the Rules Relating to Board Meetings and General Meetings of issuers, there is an obligation on the Issuer to notify the exchange within twenty-four hours after the relevant board meeting of the key decisions taken by the board.
“It is hereby stated that the company held its board meeting on Thursday, March 19, 2020 to review and approve its 2019 Full Year Financial Results for the period ended December 31, 2019.
“The results were duly considered and approved by the board and will be filed with the exchange on Monday, March 23, 2020.
“The board also proposed a final dividend of $0.05 (United States Five Cents) for its shareholders which is subject to their approval at the company’s AGM scheduled to be held on May 28, 2020,” the notice filed to the NSE on Friday said.
