XTB announced that two-thirds of its profits from the previous year will be used to pay dividends and share buybacks.
XTB's profit for 2022 was PLN 765 million, with revenue of PLN 1,444 million.
According to information provided by Polska Agencja Prasowa, the XTB broker will send 50% of its profit (PLN 381,496,813.75) to shareholders as dividends (PLN 3.25) in 2022. Another 25% of the profit (PLN 188,700,000) will be used to repurchase shares. The remainder (PLN 191,367,526.88) will be used to replenish the reserve capital.
The repurchase of shares, however, requires the approval of the Polish Financial Inspectorate; in the event of a negative result at XTB's request, the company will use these funds to increase dividends, which will reach PLN 4.86 per share.
Following the release of this announcement, XTB's stock hit an all-time high of PLN 36.90. Currently, the shares have lost some of their value and are trading at PLN 36.16.
