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Prices & Quotes - UK Markets - Plus500 Ltd (DI) (PLUS)

Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Share Price:
Down 1,565.50p
Change Today:
-19.50p
Market Cap:
1,624.55m
Sector:
Financial Services

Plus500 more than triples dividend as business booms

By Sean Farrell

Date: Tuesday 11 Aug 2020

LONDON (ShareCast) - (Sharecast News) - Plus500 more than tripled its interim dividend as the trading platform reported soaring first-half revenue and profit driven by "unprecedented" volatile markets during the Covid-19 crisis.

Pretax profit rose to $363.2m (278m) from $63.9m in the six months to the end of June from a year earlier as trading income jumped to $564.2m from $148m.

The FTSE 250 company declared an interim dividend of $0.9531 a share - a 249% increase from a year earlier. Plus500 bought back $38.9m shares in the first half and announced a further $67.3m buyback plan. Plus500 shares rose 7.3% to 13.45 at 08:14 BST.

Plus500's platform allows customers to trade contracts for difference to bet on financial markets. Business boomed in the first half as markets swung wildly in response to the coronavirus pandemic and its effect on economies. The company had record levels of new and active users and customer deposits more than tripled to $1.65bn from $467m a year earlier.

Chief Executive David Zruia said: "Plus500 delivered an outstanding performance during the first half of the year, driven by the strength and differentiation of our proprietary technology, which enabled our business and our customers to benefit from the unprecedented market volatility and event-driven market conditions experienced during the period."

Customer income so far in the second half has more than doubled as markets have stayed volatile but the company said it expected activity to normalise over the rest of 2020.

"The board remains very confident about the outlook for Plus500, particularly given the company's outstanding performance in H1 2020," Zruia said.

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PLUS Market Data

Currency UK Pounds
Price 1,565.50p
Change Today -19.50p
52 Week High 1,632.00p
52 Week Low 731.20p
Volume 285,891
Shares Issued 103.77m
Market Cap 1,624.55m

Performance Indicators

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What The Brokers Say

Strong Buy 2
Buy 0
Neutral 2
Sell 0
Strong Sell 1
Total 5
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

PLUS Dividends

  Latest Previous
  Interim Final
Ex-Div 20-Aug-20 27-Feb-20
Paid 11-Nov-20 13-Jul-20
Amount 95.31¢ 37.67¢

Trades for 04-Dec-2020

Time Volume / Share Price
16:35 84,485 @ 1,565.50p
16:29 119 @ 1,564.50p
16:29 180 @ 1,564.50p
16:29 201 @ 1,564.50p
16:29 11 @ 1,565.00p

PLUS Key Personnel

Chair Penelope Ruth Judd