Plus500 launches a new $110 million share buyback program amid strong financials

Plus500 Ltd has announced a new share buyback program worth up to $110 million, following a recently completed $100 million buyback. This move is part of a broader $185.5 million shareholder return initiative revealed in the company’s H1 2024 results.

The company, which has over $1 billion in cash, plans to repurchase up to 5.7 million shares by March 31, 2025. Plus500 cited its strong financial position as the reason for the buyback.

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Despite a 14% year-over-year revenue increase in Q2 2024, Plus500’s earnings and revenue declined compared to the previous quarter. However, the company saw a rise in new customers, adding nearly 25,000 between April and June.