Seplat Energy PLC has rewarded its shareholders with a massive increase in returns, declaring a total dividend of US 9.0 cents per share for the first quarter of 2026.
This payout represents a 96% surge compared to the same period in 2025, reflecting the company’s robust cash generation and strengthened balance sheet.
The dividend package consists of a 5.0 cent base dividend and a 4.0 cent special dividend, totaling approximately $54 million in shareholder distributions for the quarter.
This aggressive return strategy is supported by a 62.7% year-on-year rise in profit after tax, which climbed to $37.9 million.
The significant dividend hike follows a period of strong financial performance and strategic production growth as Gross revenue rose 4% to $840.7 million, bolstered by a realized oil price of $86.16 per barrel.
The Group production also averaged 129,841 boepd in Q1, with early April figures already climbing to approximately 153,000 boepd.
Commenting, Seplat Plc Chief Executive Officer Roger Brown noted that Nigeria’s favorable geographic positioning and the company’s oil-rich portfolio have allowed Seplat to fully capture the upside of higher global oil prices.
The company’s put-option hedge strategy ensured 100% exposure to price increases, directly fueling the surplus cash used for the special dividend.
With the ANOH gas project contributing its first volumes in January and the Yoho restart on track for the second quarter, the company expects production to remain within its 135–155 kboepd guidance.
This operational momentum, combined with a 13% improvement in carbon emissions intensity, positions Seplat as a high-yield option for investors seeking growth in the energy transition era.
The company also successfully upsized its revolving credit facility to $400 million while reducing borrowing costs by 76 basis points, further securing the capital structure necessary to sustain its 2030 growth targets and continued shareholder distributions.