Seplat Energy Reports N52.5 Billion Q1 Profit, Declares Dividend

Seplat Energy Plc published its first-quarter results for 2026, reporting a post-tax profit of N52.5 billion, a decrease from N35.3 billion in Q1 2025. The company's revenue declined by 5.22% to N1.16 trillion, with crude oil sales being the primary revenue driver, contributing N1.03 trillion.

The pre-tax profit was recorded at N229.1 billion, down from N314.6 billion in the previous year. Despite the revenue drop, earnings per share improved to N77.95 from N52.14.

The company declared an interim dividend of US5 cents and a special dividend of US4 cents per share, totaling US9 cents, with the payment scheduled for June 19, 2026. The total dividend translates to approximately N124 billion based on the current exchange rate.

Seplat's total assets decreased to N8.5 trillion from N8.7 trillion, while total liabilities also fell to N5.9 trillion from N6.08 trillion.