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Plus500 hikes interim dividend, names chief technology officer

Israel-based online trading platform operator Plus500 Ltd. declared an interim dividend of $1.3786 per share, up from the 23.88 cents paid per share for the first half of 2017.

The dividend will be paid Nov. 22. The company's board reiterated that it remains committed to its dividend policy of a 60% payout ratio, with payment of special dividends at the end of the year, if appropriate.

The London-listed firm reported unaudited net profit of $261.7 million for the six months to June-end, up from $90.7 million a year earlier.

The company noted that it does not expect to repeat its "exceptional" first-half performance, which reflected very active trading activity in the first quarter due to high levels of trading of cryptocurrency contracts for differences.

"Overall, our expectations are that Plus500's outstanding momentum will deliver strong year-on-year growth in 2018, in line with the market expectations," said CEO Asaf Elimelech.

Plus500 named Ari Shotland chief technology officer of the group. Shotland most recently served as senior staff software engineer and tech lead manager at Google Israel.