Seplat: Venturing into a renewable energy future; declares surprise dividend

  • Seplat released Q1 21 results which showed growth in PAT by 126% qoq to US$25mn thanks to higher oil prices

  • Seplat surprised with an interim dividend of US$0.025. FY21f DPS equates to a yield of 11% on the LSE and 9% on the NGSE

  • We revised target price higher to GBP2.15 and NGN1,229. Seplat to venture into renewable energy, starting with solar
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