Seplat Energy’s profit after tax rose by 498% year-on-year to $164 million in the first half of 2026, according to AfricanFinancials. The company also reported a sharp increase in revenue and a reduction in debt during the period.
The strong results were partly driven by the sale of a joint venture stake, which boosted earnings, AfricanFinancials reports. Seplat declared an interim dividend of 12 cents per share for H1 2026, up from the previous year.
The dividend payout will see major shareholders, including billionaires Tony Elumelu, Samuel Dossou-Aworet, and Austin Avuru, collectively receive around $30 million, according to Billionaires.Africa. The company is also undergoing a leadership transition, though details were not specified in the available reports.
Seplat’s improved financial position and higher dividend signal confidence in its operational performance. Investors will watch for further updates on the leadership change and the impact of the JV stake sale in the second half of the year.
