Nigerian billionaire businessman Tony Elumelu is set to receive another $14.45 million from Seplat Energy this week, taking his total dividend income from the energy company to about $35.3 million in 2026.
Elumelu, who is the incoming chairman of Seplat Energy and also chairs Heirs Holdings and Transcorp Group, is due to receive the payment on Friday, August 28, following the energy company’s declaration of a second-quarter interim and special dividend.
The latest payout will further strengthen the returns from his 20.07 percent stake in Seplat Energy, acquired through Heirs Energies in December 2025.
Seplat Energy declared an interim dividend of $0.05 per share and a special dividend of $0.07 per share for the second quarter of 2026, bringing the total payout to $0.12 per share and the company-wide distribution to approximately $72 million.
Based on his stake, Elumelu is expected to receive $14.45 million from the August 28 distribution, subject to applicable withholding tax.
The payment comes less than three months after he received $10.8 million from Seplat Energy on June 19 and follows a $9.99 million final dividend paid to him on May 29.
Together, the three payments will lift Elumelu’s dividend earnings from Seplat Energy this year to approximately $35.3 million.
The growing income stream highlights the financial significance of the stake acquired by Heirs Energies and the increasing cash returns being generated from the investment.
Elumelu’s exposure to Seplat Energy increased significantly on December 31, 2025, when Heirs Energies acquired a 20.07 percent interest in the company from Maurel & Prom for $496 million.
The stake has since risen in value to more than $1…
Source link
Read Full Article by Muhammed Lawal at businessday.ng
Source link
