Broker XTB announced that it will adjust the planned distribution of its record profits for 2022.
According to the original decision, XTB planned to pay 50% of its record profit for last year as dividends to shareholders, which amounted to approximately 381.5 million PLN. In addition, 25% of the profit in the amount of PLN 188.7 million was to be used to buy back the company's shares.
However, the broker decided to cancel the share buyback and use the funds to increase the dividend payment to PLN 570.5 million, according to WikiFx.
XTB's management recommended that the dividend announcement date be set for July 10, 2023, with the dividend payment date set for July 21, 2023.
The company's board of directors made the recommendation in accordance with XTB's well-established dividend policy, which recommends that the general meeting of shareholders pay a dividend of 50-100% of the broker's net profit for the reporting fiscal year.
This recommendation takes into account many important factors, including the need to maintain the company's capital ratios at an appropriate level and the funds required to grow the group.
In addition, XTB considers the recommendations of the Polish Financial Supervision Authority when determining the dividend payment plan.
This decision demonstrates XTB's commitment to prudent financial management and its desire to provide substantial returns to its shareholders.
Earlier, we wrote that XTB has expanded its investment offering for MENA clients.
Founded in 2002, broker XTB focuses on the European segment of the market and has won many prestigious awards. The company is suitable for beginners, as the deposit starts at $1.
