IG Group shareholders approve final dividend of 31.24p per share
Electronic trading major IG Group Holdings plc (LON:IGG) has posted the results of its annual general meeting (AGM) held earlier today.
IG Group shareholders approved all resolutions, including the resolution to declare a final dividend of 31.24 pence per ordinary share. This final dividend leads to a full-year dividend of 44.2 pence per share (FY21: 43.2 pence per share), marking a resumption of progressive, sustainable dividends under the new IG capital allocation framework.
Let’s recall that, for the full year to May 31, 2022, IG posted total revenue from continuing operations was £973.1 million, up 16% (FY21: £837.6 million). Excluding the foreign exchange gain associated with the financing of the tastytrade acquisition, adjusted total revenue was £967.3 million, up 14%. Excluding tastytrade, adjusted total revenue was still up 1%.
IG reiterated its medium-term guidance for total revenue of 5-7% in Core Markets+ and 25-30% in the High Potential Markets segments.
OTC derivatives net trading revenue in FY22 was £811.5 million, 2% higher than FY21. OTC revenue now represents 84% of Group revenue, down from 94% in FY21, consistent with IG’s strategic goal of diversifying its sources of revenue through growth in exchange traded derivatives and stock trading revenues.