Plus500 Declares $182.5 Million Payout, Larger Than Its First-Half Profit

London-listed online broker Plus500 announced on Monday a $182.5 million shareholder return package, surpassing the $151.9 million net profit it generated in the first half of 2026. The payout is split between $100 million of share buybacks and $82.5 million of dividends, equal to $1.2001 per share. Investors who hold the stock on the August 20 ex-dividend date will receive the cash on November 11.

First-half net profit edged up 2% year on year to $151.9 million, while revenue rose 12% to $462.9 million. EBITDA increased 1% to $187.5 million, but the EBITDA margin fell four percentage points to 41%. Operating expenses grew 20% to $278.5 million. The interim figures are unaudited. Plus500 had already flagged the top-line numbers in a July update, but the detailed cost breakdown was published with Monday's statement.

Marketing technology spending rose to $80.9 million from $69.5 million, with around $16 million of that representing an extra customer-acquisition push. Commissions and fees, which track US trading volumes, jumped 34% to $44.6 million. Employee costs increased 27% to $94.4 million, which the company attributed to the Israeli shekel strengthening roughly 20% against the dollar. Share-based pay across those expense lines reached $42.9 million, up from $31.3 million. Interest income declined to $21.1 million from $29.6 million as rates fell.

Only $70.6 million of Monday's payout represents the policy minimum, calculated as half of net profit at a 23% tax rate. The remaining $111.9 million is made up of special dividends and special buybacks funded from the balance sheet. Including the $187.5 million package announced with the 2025 results in February, Plus500 has now announced $370 million of shareholder returns in 2026. It ended June with $861.3 million in cash and no debt.

Buybacks continued to support per-share metrics. Basic earnings per share rose 6% to $2.17 even though net profit grew only 2%. The weighted share count fell 4% to 69.9 million. Plus500 held 45,527,921 treasury shares at June 30, about 40% of its issued share capital. It repurchased 1.09 million shares during the half for $63.8 million at an average price of £43.55.

US expansion and outlook

The non-OTC business, spanning futures, prediction markets and share dealing, grew roughly 30% and now accounts for about 15% of group revenue. Plus500 said it remains on track for annualized revenue of around $140 million from that unit in 2026. "Collectively, H1 2026 marked a genuine step-change for our US business," Chief Executive David Zruia said. The US unit added single-stock futures after the period ended.

Internationally, Plus500 closed its purchase of Mehta Equities in India in February, recording $19 million of goodwill and other intangibles on $21.8 million of net assets. On Monday it also announced a clearing and execution partnership with Brazil's Nelogica, following a similar deal with Wealthsimple in Canada announced 12 days earlier.

The board expects full-year revenue of $811.5 million and EBITDA of $365.1 million, in line with Bloomberg's consensus forecasts. That outlook implies second-half revenue of around $348.6 million, approximately 8% below the $377.3 million Plus500 booked in the second half of 2025.