XTB Board Approves 2020 Dividend at PLN 1.79 Per ShareMarch 12, 2021
X-Trade Brokers’ board of directors on Friday approved a dividend of PLN 1.79 per share, representing an increase of 750% from the previous payout. The dividend will be paid on April 30 to shareholders of record as of April 21.
The XTB board has authorized the company to pay PLN 210.1 million ($54.7 million) of its 2020’s net profit. Further, it decided to allocate the remaining part of the company’s net profit, in the amount of PLN 208 million, to its reserve capital.
“The recommendation of the Company’s Management Board is in line with XTB’s dividend policy, which provides for recommending to the General Meeting of Shareholders a dividend payment at the level of 50- 100% of the Company’s standalone net profit for a given financial year, taking into account factors such as the need to ensure an appropriate level of the Company’s capital adequacy ratios and the capital necessary for the Group’s development, as well as bearing in mind the guidelines of the Polish Financial Supervision Authority,” the Poland-based Forex and CFDs broker said.
XTB had impressive growth in 2020 compared to the year earlier, having reported its operating revenues at $213 million, or PLN 798 million, which was nearly three times higher than the PLN 240 million the company reported in 2019.
The most significant change across XTB’s financial results came regarding its yearly net profit, which jumped to $107 million (PLN 402 million), which is up 600 percent when compared to $14.89 million (PLN 57.7 million) net profit a year earlier.
In addition, XTB registered an increasing number of active accounts with 72,346 as of Q4 of 2020, growing steadily from 30,815 in Q4 of 2019, or 140 percent year-over-year. Additionally, new accounts were on the uptick, swelling threefold year-over-year to 38,413 in Q4 of 2020, relative to just 10,424 accounts in Q4 of 2019.
XTB expects its marketing strategy to yield more clients in 2021, referring to its recent partnership with José Mourinho, one of the world’s best football managers, who has become its new brand ambassador.
Source: Read Full Article