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SEPL Seplat Energy Plc

144.80
0.40 (0.28%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Stock Type
Seplat Energy Plc SEPL London Ordinary Share
  Price Change Price Change % Share Price Last Trade
0.40 0.28% 144.80 16:19:53
Open Price Low Price High Price Close Price Previous Close
144.60 144.40 145.00 144.80 144.40
more quote information »
Industry Sector
OIL & GAS PRODUCERS

Seplat Energy SEPL Dividends History

Announcement Date Type Currency Dividend Amount Ex Date Record Date Payment Date
29/02/2024FinalUSD0.0325/04/202426/04/202429/05/2024
29/02/2024SpecialUSD0.0325/04/202426/04/202429/05/2024
30/10/2023InterimUSD0.0309/11/202310/11/202324/11/2023
28/07/2023InterimUSD0.0316/08/202317/08/202330/08/2023
27/04/2023InterimUSD0.0317/05/202318/05/202316/06/2023
28/02/2023FinalUSD0.02517/04/202318/04/202316/05/2023
28/02/2023SpecialUSD0.0517/04/202318/04/202316/05/2023
27/10/2022InterimGBP0.0218309/11/202210/11/202206/12/2022
28/07/2022InterimUSD0.02511/08/202212/08/202209/09/2022
28/04/2022InterimUSD0.02527/05/202230/05/202224/06/2022
28/02/2022FinalUSD0.02529/04/202205/05/202225/05/2022
28/10/2021InterimUSD0.02512/11/202115/11/202109/12/2021
29/07/2021InterimUSD0.02511/08/202112/08/202113/09/2021
10/05/2021InterimUSD0.02525/05/202126/05/202110/06/2021
01/03/2021FinalGBP0.03598530/04/202104/05/202128/05/2021
30/10/2020InterimNGN19.28912/11/202013/11/202007/12/2020
19/03/2020FinalNGN18.02511/05/202012/05/202004/06/2020
29/10/2019InterimNGN15.3211/11/201912/11/201905/12/2019

Top Dividend Posts

Top Posts
Posted at 25/1/2024 17:25 by neilyb675
from SeaTank8300 on LSE:

"SEPL vs north sea E&P Today 14:05

I've been looking fairly closely at North Sea operators for a long time, as there are many flagwavers out there for these stocks. While I don't deny that there is value around, I don't see the risk-reward stacking up any better than SEPL. I'm often told by fans of North Sea oil that SEPL is interesting but the Nigeria risk is a problem for them. I find that interesting, as from where I'm sitting I see quite the opposite.

My points would be:

- North Sea oil suffers from ongoing political risk - the windfall taxes imposed on operators have been phenominal, and we are about to enter a Labour government who are vocal about their hate for the fossil fuel industry. I only see risk of further taxation ahead, removing a big part of the Free Cash Flow argument for these stocks.

- The North sea and its producers have short lifespans - they have little by way of reserve life, and without incentives to grow reserves. The tax and political system is against them, the ESG lobby is hammering them, and investors are not interested either. These businesses are managing decline; by nature they are a shrinking business. They can only be valued by DCF; multiples don't work. Truth is, they are limited life businesses.

- North Sea oil production is deep water and, most, being late life resevoirs, are complex in geology and extraction - these are real operational risks. We have have seen North Sea producers wiped out overnight because a resevoir has dissappointed catastrophically during the twilight of their life.

Whereas.... Nigeria, and Seplat in particular, in my view, have a much more attractive risk profile:

- The government of Nigeria is deeply incentivised to support growth in production, as oil represents the vast majority of fiscal revenue, and that won't change, not in our lifetimes. Tax incentives are designed to encourage reinvestment of cash generation into growing production; the tax system is therefore in support of industry growth and industry profit. The political risks are minmal.

- The security issue around oil is one about corruption and state complicity in this - this unhappy balance may improve one day, but it will not destory the industry, as key players are reliant on the industry's survival to steal from it. Currently, efforts are underway to incentivise those militias that steal to instead protect. We will see. SEPL, for its part, has a track record in localising employment opportunities in the vicinity of its operations to bring communities and mafias onside. They have a track record of success, going back years and years. Moreover, their AEP (pipeline) is secure transit infrastructure underground, much reducing any risk of pipe damage and downtime.

- SEPL's onshore assets have 25 years+ of life, multiples of North Sea, and without the complexity. MPNU's shallow water assets are shorter in reserve life but not complex either. These assets offer growth in production, not managed decline. A low valuation multiple is much closer"
Posted at 01/1/2024 06:43 by briggs1209
SEPL is part of the 2024 stockopedia NAPS portfolio.
Posted at 30/10/2023 21:17 by tom111
Excellent results today good reliable divi and we should get another special divi next year making for 11% divi.Positive take on the deal going through soon this is imo one of the best companies on AIM IMO.
Posted at 24/10/2023 11:25 by tom111
According to the Sepl web site results now on Monday 30th OCT Friday is always imo bad for RNSs
Posted at 18/10/2023 09:47 by tom111
Hoping for an increase in the divi shortly since the share price has moved up its paying around 7 to 8%
Posted at 11/10/2023 21:28 by tyler19
Let’s hope it goes to plan. Another thing to watch out for, if the acquisition goes ahead, would be the large increase in dividend with the much higher oil production!! Best of luck!
Posted at 27/3/2023 08:44 by krall
17th April 2023

London Stock Exchange: Ex-Dividend Date

Date for determining foreign exchange rate



10th May 2023

Dividend Payment Date
Posted at 27/3/2023 08:16 by farrugia
when is the ex dividend date?
Posted at 28/2/2023 09:07 by rightnellie
Very positive report and great special dividend. So glad I took a chance on this one
Posted at 12/5/2022 15:56 by seatank8300
Rogerramjett, the dividend is paid 4x per year, currently at a level of US$0.025 (2.5 cents) quarterly, of which 10% is lost to withholding tax, so the net amount is 2.25 cents quarterly, or 9 cents aggregated over 12 months. That today equates to 7.38p annually, but fluctuates with the USDGBP FX. Today's share price is 122p, which means the share has a dividend yield of 6.05%.

More pertinently, the dividend costs the company around US$59m annually in cash out, which compares to Free Cash Flow of circa $180m under the strictest definition of FCF. So the company could pay out 3x if they wanted to, at current oil prices. Post Exxon deal, FCF should triple or quadruple. It will take the company 1 or 2 years to pay down debt from the acquisition, thereafter the company will generating >$600m of FCF annually in my view, which amounts to >70% of the market cap, at current oil prices.

Note that there are other cash generative catalysts besides, such as the new pipeline about to be commissioned, and the ANOH gas to liquids facility next year.

A 70% annual yield would certainly be nice, but I don't think it'll happen, even if the oil price stays >$100; far more likely that SEPL will make further acquisitions (e.g. Shell Nigeria) or invest in new gas assets or solar assets, but the dividend will rise. I expect it will at least double when ANOH is commissioned, in 12 months time (i.e. circa $60m additional EBITDA will paid out to shareholders). Still, the company will be generating too much cash to put to work, so I would expect the dividend to triple at least, ultimately. That would be 18% yield at today's share price, twelves months from now.

This is just my expectation, based on my own speculative judgements, but I fully believe in them.

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