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#1 10-01-2021 17:26:56

johnedward
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XTB shares gain 12% thanks to positive regulatory look at dividend

XTB shares gain 12% thanks to positive regulatory examination of dividend


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XTB's share price saw double-digit growth last month, as the Polish broker received a positive valuation report from the Polish Financial Supervisory Authority (KNF).

As clarified by the XTB, the Polish Risk Assessment Framework (BION) rating was received for its dividend distribution for the previous year, with a positive outlook for last year.

"The KNF's position on dividend policy for this year indicates that XTB's current rating is at the level recommended by the Polish Financial Supervisory Authority's criteria, which should allow the company to pay dividends for the current year according to certain criteria," said XTB in a press release.

News from the morning trading session caused XTB's listed shares to rise more than 10%. At the time of going to press, each share of the brokerage firm had been trading at PLN 18.19, which is 12% higher than the previous record-breaking day's close.

Solid financial performance

XTB, which is regulated by supervisory bodies in Poland, the UK and Spain offers trading services across multiple assets, including forex, indices, commodities, equity CFDs and cryptocurrencies.

XTB plans to expand its services in Asia next year to meet its global growth targets.

"We assume that by the end of the year we will be able to set up the Asian market so that we can start operating there in early 2021", said Omar Arnout, CEO of X-Trade Brokers .

In the meantime, XTB has posted steady growth in profits for several quarters. For the third quarter of last year, the brokerage recorded a 128.9% increase in revenue compared to the same quarter of 2019. In addition, trading activity hit a record high in the last quarter.

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