SEPLAT Announces the Tax Implications of 2019 Final Dividend

Proshare

Tuesday, May 19, 2020 / 11:44 AM / NSE / Header Image Credit: Seplat Petroleum 


Further to the corporate actions announcement made on 23 March 2020, wherein Seplat declared a final dividend of US$0.05 (United States Five Cents) per ordinary share; shareholders are hereby advised that following the amendment of the finance laws in Nigeria - Finance Act, 2020 (dividends paid out of after tax petroleum profits are now subject to With Holding Tax (WHT)), the dividend of US$0.05 (United States Five Cents) per ordinary share will be subject to a WHT rate of 10%.


For shareholders that are tax resident in countries with a Double Tax Treaty (DTT) with Nigeria, a reduced rate of 7.5% will be applicable. However, there is a requirement for the shareholder to prove to the Federal Inland Revenue Service (FIRS) their tax residency in the foreign country as the ultimate beneficiary of the dividend and apply for the treaty rate of 7.5%. Shareholders from treaty nations should notify the Company's registrars- Computershare (London register) and Datamax (Lagos register) as applicable, that they are subject to the lower WHT by filling and submitting the qualification form available on the Company website by 27 May 2020: https://seplatpetroleum.com/investors/dividend/

 

Visit Seplat Petroleum Development Company Plc IR Page in Proshare MARKETS 

Graph - One Year Share Price Movement

Proshare Nigeria Pvt. Ltd.

 

Table:  Q1 2020 Unaudited Results

Proshare Nigeria Pvt. Ltd.

 

Related News

1.    SEPLAT Notifies of 2019 FY Final Dividend Currency Exchange Rates...

2.   Seplat Petroleum Development Company Plc Q1 20 Results - Impairment Loss Drags S...

3.   SEPLAT Declares N34.6bn Loss in Q1 2020 Results,(SP:N494.40k)

4.   SEPLAT Notifies of Correction in the Five-year Financial Summary of 2019 AFS...

5.   SEPLAT BUACEMENT Lead Companies Recording Drop In Market CAP During Lockdown...

6.   SEPLAT Declares N85bn PAT in 2019 Audited Results SP N544.50k ...

7.   Oando, Aiteo, Seplat and Others Collaborate To Fight COVID-19

8.   SEPLAT Notifies Of Board Meeting Resolutions

9.   SEPLAT Set To Release Its 2019 AFS on March 23, 2020

10. SEPLAT Notifies of Closed Period

READ MORE:
Related News
SCROLL TO TOP