Poland-based broker, XTB, to share dividend payments of PLN176.1 or around $40.44 million from 2021 profit for its shareholders this coming May.
The management board of XTB (X-Trade Brokers) recommends distributing PLN 176.1 million (approximately $40.44 million) of 2021 profits as dividends to shareholders. The proposed date for assessing shareholder ownership in dividends is May 5, while the distribution date is May 16.
This profit is actually the result of the hard work of the broker who started international expansion last October under the MENA subsidiary. Additionally, it also recently received a license from the South African regulator to enter the African market.
The Remaining Will be Kept in Reserve Capital
XTB reported PLN 183.6 million in revenue in the Q4 of 2021, along with a net profit of 238.3 million, an increase of 68.9% from the previous year. However, the annual operating income actually fell 21.6% to PLN 625.6 million compared to the 2020 record. In addition, the Polish broker also only generated a net profit of PLN 238.3 million, down about 40.7% from the previous year.
Talking about dividend allocation decisions, the broker highlighted that dividend distribution recommendations are in line with company policy, which involves paying dividends of 50% to 100% of net profit independently.
In the previous dividend distribution, XTB paid a dividend of PLN1.79 per share. However, this year, the proposed dividend distribution will be reduced to PLN 1.5 per share. The company will save the remaining available profit by putting it in reserve capital.