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Seplat Energy Plc, the largest listed indigenous upstream oil and gas firm, has a total of N559.51 million in unpaid dividends, according to its 2022 full-year financial statement.
During the year, the Directors recommended and paid to members quarterly interim dividends of US2.5cents per share, declared in April, July and October in line with its normal dividend distribution timetable.
In addition to this, the Board of Seplat recommended a final dividend of US2.5 cents per share and a special dividend of US5.0cents per share. The dividends are subject to approval of shareholders, at the AGM which will be held on 10 May 2023 in Lagos, Nigeria.
An unpaid dividend, also known as a Dividend Payable, refers to the dividend that a company has announced but has not been paid to stockholders.
Dividends are profits that a company distributes to its shareholders. Corporations distribute money to its shareholders when profits are made.
An unpaid dividend is a dividend which the company has declared but had not been distributed to stockholders. From the moment a company announces dividends to the moment shareholders receive their dividends, an unpaid dividend exists.