XTB shares reached a new all-time high in response to the announcement of a record-high dividend. The board of broker XTB announced its intention to pay dividends of more than 590 million zlotys ($146 million) per share, which is the historically highest level of payout for shareholders.
This news sent XTB shares soaring on the Warsaw Stock Exchange (WSE), where they reached a new high. It is expected that 75% of the company’s net profit for 2023, amounting to 787 million zlotys (US$195 million), will be used to pay dividends, with the remainder strengthening reserve capital.
Proposals for record and dividend payment dates have also been made: June 5 and June 20, 2024, respectively. This means that each XTB share will generate 5.02 zloty ($1.24) in dividends, providing a yield of 7.2%.
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XTB shares have already seen significant growth over the past two years, rising nearly 22% last year and more than 60% this year. News of the high dividend spurred further growth, pushing its value up 2% on Wednesday, reaching a new all-time high of PLN 62.30.
This success testifies not only to the prosperity of XTB itself but also to the favorable market environment. XTB shares aren’t the only ones benefiting investors, with over 500 shares on the London Stock Exchange (LSE) up 30% year to date, with a significant number of them also hitting all-time highs.
XTB’s growth is supported not only by high dividends but also by the company’s strategic moves. Increasing the number of clients to more than one million people and expanding the product portfolio, including a social trading platform and passive trading tools, helped strengthen XTB’s position as a global fintech broker. The company also plans to expand its presence in markets outside of Europe, including acquiring a broker in Indonesia to enter the Asian market.
