Seplat Petroleum Development Company, has adopted the payment of quarterly dividends after the Board approval, commencing with an interim dividend of US2.5 cents.
This is a change to Seplat’s previous policy of declaring dividends twice a year in the Q3 results and the full-year results.
The change in policy is intended to provide more frequent returns to shareholders.
Seplat also proposes to change its name to Seplat Energy PLC.
“We are seeking shareholder approval to change our name to Seplat Energy PLC to reflect the future direction of the Company. The change of name will be accompanied by a new corporate brand identity that we plan to unveil at the Seplat Energy Summit in September. Before that, we intend to host a Capital Markets Day on 29 July 2021 to outline the Company’s strategic direction and its plans to develop its New Energy business,” Seplat said.