The company wants to distribute PLN 4.86 per share as dividends.
The proposed dividend date is 10 July.
The Polish retail broker, XTB has moved to scrape its proposed share buyback plan and distribute the record 2022 profits as dividends instead. The company wants to increase its dividend distribution to PLN 4.86 per share from the earlier proposed PLN 3.25 per share.
XTB Distributing Profits among Investors
XTB generated $171.6 million in net profits in 2022, which is a yearly jump of about 215 percent. Earlier, the management of XTB proposed the allocation of 75 percent of the profits to dividends and share repurchases while intending to set aside the remaining PLN 191.4 million ($43 million) as reserve capital.
The management wanted to pay 50 percent of the company's net profit as dividends and buyback shares with 25 percent of the profits. In 2021, the broker distributed PLN 1.5 per share as dividends, making the current proposal significantly higher.
A Higher Dividend Distribution Proposal
According to the latest press release from the broker, the management wants to allocate PLN 570.5 million for dividend distribution. The profit share proposed for reserve capital remains unchanged.
"The recommendation of the company's Management Board is in line with XTB's dividend policy, which assumes recommending the General Meeting to pay dividends at the level of 50 – 100% of the company's standalone net profit for a given financial year," XTB stated (translated from Polish).
The company added that the management considered factors like "the need to ensure an appropriate level of the Company's capital adequacy ratios and the capital necessary to development of the Group, as well as taking into account the guidelines of the Polish Financial Supervision Authority."
The XTB board are proposing 10 July as the dividend distribution date and 21 July as the dividend payment date.
XTB, which went public in 2016, witnessed a significant rally in its share price over the years. The market value of XTB shares doubled in the past year and is still lingering around the peak it hit earlier this month.
Meanwhile, last month, Jakub Zablocki, the Co-Founder of XTB, sold 7 million XTB shares, worth about $64 million at the time, through XX ZW Investment Group, a private investment firm owned by him.
The Polish retail broker, XTB has moved to scrape its proposed share buyback plan and distribute the record 2022 profits as dividends instead. The company wants to increase its dividend distribution to PLN 4.86 per share from the earlier proposed PLN 3.25 per share.
XTB Distributing Profits among Investors
XTB generated $171.6 million in net profits in 2022, which is a yearly jump of about 215 percent. Earlier, the management of XTB proposed the allocation of 75 percent of the profits to dividends and share repurchases while intending to set aside the remaining PLN 191.4 million ($43 million) as reserve capital.
The management wanted to pay 50 percent of the company's net profit as dividends and buyback shares with 25 percent of the profits. In 2021, the broker distributed PLN 1.5 per share as dividends, making the current proposal significantly higher.
A Higher Dividend Distribution Proposal
According to the latest press release from the broker, the management wants to allocate PLN 570.5 million for dividend distribution. The profit share proposed for reserve capital remains unchanged.
"The recommendation of the company's Management Board is in line with XTB's dividend policy, which assumes recommending the General Meeting to pay dividends at the level of 50 – 100% of the company's standalone net profit for a given financial year," XTB stated (translated from Polish).
The company added that the management considered factors like "the need to ensure an appropriate level of the Company's capital adequacy ratios and the capital necessary to development of the Group, as well as taking into account the guidelines of the Polish Financial Supervision Authority."
The XTB board are proposing 10 July as the dividend distribution date and 21 July as the dividend payment date.
XTB, which went public in 2016, witnessed a significant rally in its share price over the years. The market value of XTB shares doubled in the past year and is still lingering around the peak it hit earlier this month.
Meanwhile, last month, Jakub Zablocki, the Co-Founder of XTB, sold 7 million XTB shares, worth about $64 million at the time, through XX ZW Investment Group, a private investment firm owned by him.
Arnab is an electronics engineer-turned-financial editor. He entered the industry covering the cryptocurrency market for Finance Magnates and later expanded his reach to forex as well. He is passionate about the changing regulatory landscape on financial markets and keenly follows the disruptions in the industry with new-age technologies.
Gender Gap in Online Privacy Concerns: Women More Reserved in Sharing Personal Data
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
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#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
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#fmas #fmas24 #fmevents #networking #finance #africa
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
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20-22 MAY 2024
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#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
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#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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