Poland based Retail FX and CFDs brokerage house X Trade Brokers Dom Maklerski SA – operator of the XTB.com and X Open Hub brands – has announced that it plans to pay out dividends of PLN 210.1 million (USD $55 million), representing about half of the company’s net profit of PLN 418.2 million for 2020.

The plan will be presented as a resolution to XTB’s Supervisory Board and to the Ordinary General Shareholders’ Meeting of the Company. If adopted, the dividend date will be set for 21 April 2021, and the dividend payment date will be 30 April 2021. The dividend distribution represents PLN 1.79 per share.

XTB’s dividend policy calls for 50-100% of the company’s net profit to be paid out in dividends to shareholders, while taking into account factors such as capital adequacy ratios, capital necessary for the Group’s development, as well as bearing in mind the guidelines of the Polish Financial Supervision Authority.

The proposed profit distribution is at the lower end of the 50-100% of profit dividend policy range, we believe, reflecting that the vast majority of XTB’s 2020 profits were generated in the first half of the year, with activity tapering off later in 2020 and into early 2021. The company’s shares are down about 40% from 52 week highs hit last summer.

XTB share price, one year chart. Source: Google Finance.