Plus500 announced a further US$120mln in payments to shareholders and promised more to come as the CFD broker continues to pile up cash.
The distribution comprises an interim dividend of 62.4c, costing US$60.2mln, plus a share buyback scheme for the same amount, which is in addition to April’s US$50mln ‘special’ scheme.
"To highlight the board's view of the current value of the company's shares and our continued confidence in the future of Plus500, the company has delivered further elevated levels of returns to shareholders," said David Zruia, chief executive.
Going forward, Plus500 added it intends to payout at least 50% of net profits, with at half of this in buybacks augmented by further ‘specials’ to be considered on a half-yearly basis.
The commitment came alongside interim results to end-June 2022 that were bang in line with an update last month with revenues rising 48% to US$511mln and underlying profits [EBITDA] up 63% at US$305mln.
Pre-tax profits rose by two-thirds to US$313mln with US$345mln of cash generated over the period to leave a balance at the period end of US$995mln.
Active users continued to fall to 217,000 against 334,000 a year ago, but these traders more than doubled their average spend to US$2,357 (US$1,037).
More than four-fifths of revenue came from customers who had been trading for over a year, Plus500 added.
Zruia said it was ‘another outstanding performance in the first half of 2022’.
“With continued operational and financial momentum being achieved, we also made substantial progress in delivering against our strategic priorities, in particular the major growth opportunities in the US, where we are continuing to make significant on-going investment.”