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Plus500 cuts FY'19 final dividend as net profit falls 60% YOY

Israel-based and London-listed online trading platform Plus500 Ltd. declared a final dividend of 37.7 U.S. cents per share for the year ended Dec. 31, 2019, down from 61.9 cents per share for 2018.

The final dividend will take the total dividend for 2019 to 65.0 cents per share, down from $2.0 per share a year earlier. It will be paid to shareholders on July 13.

The company reported unaudited full-year 2019 net profit of $151.7 million, down from $379.0 million a year earlier. In line with the company's expectations for the full year, revenues and EBITDA came in at $354.5 million and $192.3 million, respectively, compared to $720.4 million and $506.0 million a year ago.

Meanwhile, the company said Seychelles' Financial Services Authority granted it a new securities dealer license in January. Plus500 is considering expanding into new regions and in current regions through additional regulatory licenses, as well as through value-adding targeted acquisitions.