(Reuters) - Online trading platform Plus500 (LON:PLUSP) announced shareholder payouts worth $175 million in buybacks and dividends on Tuesday, after it beat annual profit expectations on record high customer deposits and a growing global presence.
Israel-based Plus500 operates a trading platform for financial products including shares, exchange-traded funds (ETFs), indices, commodities and currencies across 60 markets in UK, Europe and Asia.
During the year, the company added a share dealing platform, a new line of business offering futures and options, a new retail trading platform in Japan, and more global regulatory licences as trading activity came off pandemic highs and volatility from the Russia-Ukraine war.
The London-listed company reported core profit of $340.5 million for full-year 2023, compared to $453.8 million last year.
This beat analysts' expectations of $300 million according to a company-supplied consensus.
However, revenue for the year was down 13% at $726.2 million.
"The board remains confident about the Group's future prospects," Plus500 said in a statement.