Plus500 started a new $100 million share buyback today (Thursday), its second repurchase program of that size. The London-listed broker is authorized to buy up to 5,759,572 shares.
The allocation is the buyback portion of the $182.5 million shareholder return announced with first-half results on August 10. Dividends account for the remaining $82.5 million.
Repeated repurchases have reduced the share count used to calculate earnings per share. Plus500 reported a 6% year-over-year rise in first-half EPS while net profit increased 2%, as its weighted average share count declined to 69.9 million from 72.8 million.
Purchases Can Continue Into 2027
The $100 million allocation comprises a $35.3 million interim program and a $64.7 million special program.
Panmure Liberum will execute open-market purchases under an irrevocable, non-discretionary mandate. The mandate is fixed. Plus500 said neither its board nor the company can change the program once it is running.
The share limit comes from the authority investors approved at the May 5 annual general meeting, less stock already purchased under that mandate. Timing and volume will depend on the market price, trading activity and other conditions.
- Plus500 Sees 20% Margin on Its US Business, Double What Its CEO Calls Market Practice
- Plus500 Declares $182.5 Million Payout, Larger Than Its First-Half Profit
- Plus500 Adds Single Stock Futures as Non-OTC Revenue Hits 15%
The 5.76 million-share figure is the remaining legal authorization, not a purchase forecast. The $100 million spending cap can limit the number acquired sooner, depending on the share price.
Repurchased shares will be held in treasury. They will carry no voting rights and will not receive dividends.
The program may run until Plus500 announces its results for the first half of 2027. Purchases can continue during closed periods, and the company said it will report each day's transactions by 7 a.m. on the following business day.
Four Large Programs in Three Years
Plus500 began another $100 million program on February 16. That repurchase formed part of a $187.5 million return package and followed a $90 million program announced in August 2025.
The company was still buying under the February mandate this week. A Wednesday filing said it purchased 9,727 shares on August 25, taking the treasury balance to 46,384,762 shares and leaving 68,503,615 in issue excluding treasury stock.
The company committed a further $110 million to buybacks in August 2024, after starting a $100 million program six months earlier. It divided the August allocation into a $35.4 million interim program and a $74.6 million special program.
Plus500 has repurchased shares since 2017. At June 30, 2026, it held 45,527,921 shares in treasury, about 40% of issued share capital, according to its interim report.
The two return packages announced this year total $370 million. Plus500 said the amount distributed through dividends and buybacks since its 2013 initial public offering had reached about $3.1 billion, a company-reported figure.
Listed Brokers Use Buybacks for Different Purposes
IG Group started a GBP 125 million (about $170 million) buyback in April, its fourth such program in less than two years. Morgan Stanley is handling the repurchase in two tranches.
XTB began a smaller buyback on May 11 to acquire up to 76,152 shares for its employee incentive plan. It scheduled purchases through September 30.
Plus500's repurchases are part of its shareholder-return policy, which targets at least half of half-year net profit through dividends and buybacks. Thursday's filing puts its June 30 cash balance at more than $860 million.
