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#1 27-04-2024 20:07:48

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XTB stock price hits a new high after payment of a record dividend

XTB stock price hits a new high after payment of a record $195 million in dividends
Arrow The board of directors recommends a payment of PLN 5.02 per share.
Arrow Customer growth and expansion plans contribute to investor confidence.

The board of directors of the listed brokerage company profits distributed to shareholders.

In response to this news, XTB shares on the Warsaw Stock Exchange (WSE) reached all-time highs on Wednesday.

75% of XTB profits in 2023 allocated to dividend
According to information released by the company this week, XTB's board of directors adopted a resolution recommending the allocation of 75% of the company's net profit for 2023, amounting to PLN 787 million ($195 million ), to the payment of dividends. The remaining part, PLN 197 million ($49 million), will supplement the company's reserve capital.

"XTB's Board of Directors proposes a dividend record date of June 5, 2024 and a dividend payment date of June 20, 2024," reads XTB's press release.

This means that XTB will pay PLN 5.02 ($1.24) per share, giving a dividend yield of 7.2%. However, this yield is lower than the previous year due to the sharp rise in the share price on the WSE.

XTB shares rose by almost 22% last year and are already up over 60% this year. News of the dividend payment triggered a new impetus for growth, and on Wednesday the shares briefly gained almost 2%, setting a new all-time record at PLN 62.30.

However, the good series is not only about XTB. Indeed, the LSE 500 shares are up 30% since the start of the year and all-time highs, around 2,200 pence per share, have also been tested.

Net profit is not the only factor that contributes to investor confidence in XTB. Above all, this concerns the continued increase in the number of customers and product and geographic expansion projects.

XTB has over 1,000,000 traders
XTB, which no longer wants to be thought of as an FX/CFD broker but with a "global fintech", certainly has many reasons for this. Earlier this month, the company announced that its number of customers had surpassed the one million mark, doubling in the last few years.

In the meantime, the company has launched many new products, including ETF-based passive trading tools. In 2024, it has already made a social trading platform available to users. Soon it will also offer the possibility of trading bonds.

According to reports from February, XTB plans to expand into the UK market, where it aims to join the 400 billion GBP individual savings account (ISA) sector. The expansion also goes beyond the old continent, as evidenced by the acquisition of a broker in Indonesia, which should become a "gateway to Asia" for the company.

About XTB

XTB Group is a leading provider of crypto CFDs alongside 2,100 forex, stock, index, commodity and ETF CFDs. The multi-regulated broker holds licenses with several trusted agencies, including the UK's Financial Conduct Authority (FCA) and the Cyprus Securities & Exchange Commission (CySEC).

Clients can invest and speculate with up to 1:30 leverage and can use the broker's mobile trading alert service to gain market insight. XTB offers two real accounts, aimed at retail traders and professional investors.

"Anything worth having is worth going for - all the way." - J.R. Ewing


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