Compagnie Financière Tradition will buyback 300,000 of its shares.
It will also distribute a dividend of CHF 5.50.
Swiss interdealer broker Compagnie Financière Tradition (CFT), which also owns the Japanese retail trading platform Gaitame, is launching a share buyback program to optimize its capital allocation.
Share Buyback Program of Compagnie Financière Tradition
According to the official announcement, the group company will buy back up to 300,000 shares. The program is expected to start in June 2023 and run until May 2026 at the latest. However, the group did not mention the allocated sum for the program.
“The execution of the program is subject to market conditions and regulatory approvals,” the CFT stated. “The buyback will be executed via second trading line on SIX Swiss Exchange. Shares repurchased under the program are expected to be canceled subject to shareholder approval.”
Rewarding Investors with Dividends
Apart from the share buyback program, the shareholders of the group approved the dividend proposal made by its board of directors. The group will distribute a cash dividend of CHF 5.5 per bearer share of CFT with a nominal value of CHF 2.50. Furthermore, “a distribution of one bearer share for every 100 bearer shares held to be deducted from the available earnings.”
At the current stock price of CHF 120 a piece, the CFT has a dividend yield of approximately 4.6 percent.
“The total amount of the dividend is CHF 49,031,068.1, and the available retained earnings carried forward is CHF 74,135,932 subject to the amount of treasury shares held at the dividend detachment date (on 30 May 2023),” the announcement added.
Meanwhile, the consolidated revenue of the CFT in the first quarter of the ongoing year came in at CHF 271.6 million, which is an increase of 9.6 percent from the previous year. Revenue from its interdealer broking business jumped 13.3 percent at constant exchange rates, while the non-interdealer broking business grew 3 percent.
Swiss interdealer broker Compagnie Financière Tradition (CFT), which also owns the Japanese retail trading platform Gaitame, is launching a share buyback program to optimize its capital allocation.
Share Buyback Program of Compagnie Financière Tradition
According to the official announcement, the group company will buy back up to 300,000 shares. The program is expected to start in June 2023 and run until May 2026 at the latest. However, the group did not mention the allocated sum for the program.
“The execution of the program is subject to market conditions and regulatory approvals,” the CFT stated. “The buyback will be executed via second trading line on SIX Swiss Exchange. Shares repurchased under the program are expected to be canceled subject to shareholder approval.”
Rewarding Investors with Dividends
Apart from the share buyback program, the shareholders of the group approved the dividend proposal made by its board of directors. The group will distribute a cash dividend of CHF 5.5 per bearer share of CFT with a nominal value of CHF 2.50. Furthermore, “a distribution of one bearer share for every 100 bearer shares held to be deducted from the available earnings.”
At the current stock price of CHF 120 a piece, the CFT has a dividend yield of approximately 4.6 percent.
“The total amount of the dividend is CHF 49,031,068.1, and the available retained earnings carried forward is CHF 74,135,932 subject to the amount of treasury shares held at the dividend detachment date (on 30 May 2023),” the announcement added.
Meanwhile, the consolidated revenue of the CFT in the first quarter of the ongoing year came in at CHF 271.6 million, which is an increase of 9.6 percent from the previous year. Revenue from its interdealer broking business jumped 13.3 percent at constant exchange rates, while the non-interdealer broking business grew 3 percent.
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.
TradeStation and Coincheck Drive Monex's 850% Profit Surge
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!
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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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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
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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.
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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
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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.
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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.
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