Canadian fintech company Nuvei Corporation (TSX:NVEI) today reported its financial results for the three and six months ended June 30, 2024.

In the second quarter of 2024, Nuvei saw total volume(a) increase by 22% to $61.7 billion from $50.6 billion in the year-ago period.

Revenue increased by 13% year-on-year to $345.5 million from $307.0 million.

Net income, however, decreased by 54% to $5.3 million from $11.6 million.

Adjusted EBITDA increased by 6% to $116.8 million from $110.3 million.

Adjusted net income increased by 8% to $62.6 million from $58.1 million.

Net income per diluted share decreased to $0.02 from $0.07.

Nuvei announced that its Board of Directors has authorized and declared a cash dividend of $0.10 per Subordinate Voting Share and Multiple Voting Share, payable on September 5, 2024 to shareholders of record on August 20, 2024.

The aggregate amount of the dividend is expected to be approximately $14 million, to be funded from the Company’s existing cash on hand.