Plus500 Announces Share Buyback and Special Dividend

by webmaster

By Elena Vardon

Plus500, the online-trading platform operator, has revealed its plans to launch a new share buyback program and a special dividend. The company reported a decline in pretax profit for the first half of the year, primarily due to reduced volumes in financial markets.

For the six months ended June 30, Plus500 reported a pretax profit of $174.9 million, compared to $312.6 million during the same period last year. Revenue also saw a decrease, falling from $511.4 million to $368.5 million. In addition, customer income slipped to $304.3 million from $339.8 million, with the number of active customers decreasing by 19% to 175,762.

Meanwhile, earnings before interest, taxes, depreciation, and amortization (EBITDA) dropped from $305.3 million to $174.1 million.

Despite these challenges, Plus500 remains optimistic about its future performance. The London-listed group expects its results for 2023 to align with market expectations. According to a company-compiled consensus, revenue for the year ending December 31 is projected at $614.2 million, with EBITDA estimated at $274.9 million.

In light of these developments, Plus500 has declared an interim dividend of $0.4125 per share, along with a special dividend of $0.3219 per share. Additionally, the company has announced a forthcoming share buyback worth $60.0 million, which will commence once the current program is finalized.

Willing to try automated trading?
See the best forex robots rating to make the right choice.
Explore the list here >
Willing to try automated trading?
See the best forex robots rating to make the right choice.
Explore the list here >

Related Articles

Leave a Comment

4 + = 10