Seplat Power PLC has elevated its dividend per share by 8 p.c quarter-on-quarter and 96 p.c year-on-year to $0.09 on projected “robust money flows” pushed by excessive oil costs.
“The battle within the Center East has dramatically modified the outlook for the oil and gasoline business in 2026, and fairly probably past. Nigeria’s favorable geographic positioning, mixed with our oil-rich portfolio, which is totally uncovered to greater oil costs, and our robust stability sheet, means we’re properly positioned to ship robust money flows in 2026”, chief government Roger Brown mentioned in a web-based assertion Thursday.
The dividend improve comes from the particular portion of $0.04 per share. The core dividend stays at $0.05.
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Seplat reported $37.9 million in revenue after tax for the January-March 2026 quarter, up 62.7 p.c from the identical three-month interval final 12 months. Pre-tax earnings was $165.6 million, down 20.2 p.c year-on-year.
Output averaged 129,841 barrels of oil equal a day (boed), down 1 p.c year-on-year. Onshore contribution fell 10 p.c “principally as a consequence of 38 days unplanned downtime on third-party operated Trans Forcados Pipeline, impacting Western Belongings”, Seplat mentioned. “Pipeline operations resumed on 24 March and Western Belongings manufacturing has normalized”.
Seplat maintained full-year manufacturing steerage at 135,000-155,000 boed. That assumes flat crude and condensate manufacturing, a 30 p.c improve in gasoline and an 85 p.c improve in pure gasoline liquids (NGLs).
Realized oil costs in Q1 2026 rose 12.8 p.c year-on-year to a mean of $86.2 a barrel. The common realized gasoline value was $3.1 per thousand cubic toes. Realized NGL costs dropped 0.8 p.c to $44.4 per barrel.
Income grew 3.9 p.c year-over-year to $840.7 million. Gross revenue elevated 4.9 p.c to $370.5 million.
Nevertheless, adjusted EBITDA fell 7.3 p.c to $371.3 million. Working revenue declined 10.4 p.c to $213.5 million.
Put up-tax money era from operations was $243.4 million, up 10.7 p.c year-on-year.
“Steadiness sheet stays sturdy, [with] end-March money at financial institution $461.7 million (YE 2025: $332.3 million)”, Seplat mentioned.
Web debt fell 21 p.c quarter-on-quarter to $531.6 million.
“Whereas the firmer oil value outlook ought to improve money flows its length is unsure, as such, we count on to retain our present growth-focused 2026 work program, which can ship enhanced asset reliability and general portfolio development on path to our 2030 targets”, Brown mentioned. “General, now we have delivered a strong begin to 2026, with expectations that 2Q 2026 will see a step ahead in efficiency”.
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