Plus500 Launches Another $60.2M Share Buyback Program


Plus500 (LON: PLUS) has extended its share buyback program yet again, allocating an additional $60.2 million. Announced on Tuesday, the new stock repurchase program came as its previous programs ended.

The Israeli forex and CFDs broker will repurchase up to 9,959,828 ordinary shares under the latest program.

“The purpose of the Share Buyback Programme is to highlight further the Board’s continued confidence in the future prospects of Plus500 and reflects its strong financial position. This confidence is supported by the significant operational and financial momentum achieved by Plus500 over recent years, as the Group continues to make further progress on its strategic roadmap,” the broker stated.

The latest announcement did not make enough stir in the publicly traded stock price of the broker yet. Plus500 stocks are trading 0.78 percent higher after Tuesday’s market opening, as of press time.

Aggressive Buybacks

Plus500, a major brand in the retail forex and CFDs trading space, has been buying back its publicly listed ordinary shares for a while now.

From the beginning of 2022, the broker was repurchasing its shares under two programs, allocating $55 million to one and $50 million to another.

It repurchased $88.8 million worth of its ordinary shares from the open market in 2020 and ran another $25 million program in the following year, later topping it up with an additional $12.5 million.

Meanwhile, the broker is also targeting to achieve an incremental annualized revenue objective of approximately $500 million under its new five-year plan. It generated $194.5 million as revenue in the third quarter of 2022, a yearly decline of 8 percent, but year-to-date figures came in strong.

In the first half of this year, the Plus500’s revenue climbed by 48 percent to $511.4 million, whereas the earnings per share for the period came in 52 percent higher at $2.46.

Plus500 (LON: PLUS) has extended its share buyback program yet again, allocating an additional $60.2 million. Announced on Tuesday, the new stock repurchase program came as its previous programs ended.

The Israeli forex and CFDs broker will repurchase up to 9,959,828 ordinary shares under the latest program.

“The purpose of the Share Buyback Programme is to highlight further the Board’s continued confidence in the future prospects of Plus500 and reflects its strong financial position. This confidence is supported by the significant operational and financial momentum achieved by Plus500 over recent years, as the Group continues to make further progress on its strategic roadmap,” the broker stated.

The latest announcement did not make enough stir in the publicly traded stock price of the broker yet. Plus500 stocks are trading 0.78 percent higher after Tuesday’s market opening, as of press time.

Aggressive Buybacks

Plus500, a major brand in the retail forex and CFDs trading space, has been buying back its publicly listed ordinary shares for a while now.

From the beginning of 2022, the broker was repurchasing its shares under two programs, allocating $55 million to one and $50 million to another.

It repurchased $88.8 million worth of its ordinary shares from the open market in 2020 and ran another $25 million program in the following year, later topping it up with an additional $12.5 million.

Meanwhile, the broker is also targeting to achieve an incremental annualized revenue objective of approximately $500 million under its new five-year plan. It generated $194.5 million as revenue in the third quarter of 2022, a yearly decline of 8 percent, but year-to-date figures came in strong.

In the first half of this year, the Plus500’s revenue climbed by 48 percent to $511.4 million, whereas the earnings per share for the period came in 52 percent higher at $2.46.



Source link

Related articles

MVB Monetary Corp. (MVBF) Shareholder/Analyst Name Ready Remarks Transcript

Comply with MVB Monetary Corp. (MVBF) Shareholder/Analyst Name Could 19, 2026 10:00 AM EDT Firm Contributors Kelly NelsonLarry Mazza - President, CEO & Non-Impartial Director Presentation ...

Canaan Posts $88.7M Internet Loss in Q1 2026 as Bitcoin Costs Weigh on Mining Income

Bitcoin miner Canaan reported a web lack of $88.7 million for the primary quarter of 2026, as falling Bitcoin (BTC) costs squeezed margins and triggered a big stock write-down.The corporate posted whole income...

7 Excessive-Dividend Shares to Navigate 4 Rising Market Dangers

US indices are falling after final week’s file highs. A number of key dangers elevate considerations that losses may deepen. On this context, dividend-paying shares supply a number of key benefits that shouldn't be ignored. Final...

Tanker buildup at Iran’s Kharg Island reaches post-blockade excessive

(Bloomberg) – Some 23 tankers have been noticed round Iran’s principal oil-export hub, the biggest cluster to have gathered on the island because the U.S. Navy started a blockade on the nation’s ports...
spot_img

Latest articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

WP2Social Auto Publish Powered By : XYZScripts.com