The management board of X-Trade Brokers (XTB) has recommended distributing PLN 176.1 million (around $40.44 million) as dividends to its shareholders, the Polish forex and CFDs broker announced on Thursday.
The proposed date to assess the holdings of the shareholders for dividend distribution is May 5, while the distribution date would be May 16.
The dividends will be distributed from the profits of the broker in 2021. The broker generated PLN 238.3 million in net profit last year, which is 40.7 percent lower than the previous year. The company will keep the remaining profit at its disposal allocating it to the reserve capital.
Additionally, the broker highlighted that the recommendation for the dividend distribution is in line with its dividend policy, which involves recommending a dividend payment of 50 percent to 100 percent of the standalone net profit.
Indeed, the Polish broker paid a dividend of PLN1.79 per share for the previous share. However, on that basis, the proposed dividend distribution came down to PLN1.5 per share.
Good Numbers
Finance Magnates recently reported that XTB generated PLN 183.6 million as revenue in the fourth quarter of 2021, along with a net profit of 238.3 million, which is 68.9 percent higher than the previous year.
But, the yearly figures turned dull as its annual operating income went down by 21.6 percent to PLN 625.6 million from the record figures of 2020. Meanwhile, the broker is focused on international expansion and has already stated services under its MENA subsidiary last October. Furthermore, it received a license from the South African regulator.
