IG Group Holdings announce an increased interim cash dividend to 13.26 pence per share

DividendMax Ltd.

IG Group Holdings announce an increased interim cash dividend to 13.26 pence per share

The IG Group Holdings plc have proposed interim dividend for FY23 of 13.26 pence per share totalling £55.1 million was approved by the Board on 25 January 2023 and has not been included as a liability at 30 November 2022. This dividend will be paid on 3 March 2023 to those members on the register at the close of business on 3 February 2023.

Other financial highlights include:

- Total revenue increased 10% to £519.1 million (H1 FY22: £471.5 million). Adjusted total revenue increased 11% (H1 FY22: £465.7 million).

- Net trading revenue increased 5% to £494.9 million (H1 FY22: £471.9 million. Adjusted net trading revenue up 6% (H1 FY22: £466.1 million).

- Net interest income of £24.2 million (H1 FY22: £(0.4) million) rose significantly across all businesses, reflecting higher interest rates and continued high levels of client money.

- Strong growth in revenue per client and consistency in client retention rates reflected the continued unique, high quality of our client base.

- Active clients reduced slightly 312,000 (H1 FY22: 320,400), while new clients acquired of 37,500 (H1 FY22: 53,600), moderated from the very high levels in the comparative period, as anticipated.

- Total operating costs increased 25% to £279.9 million (H1 FY22: £223.3 million). Adjusted total operating costs of £256.8 million (H1 FY22: £205.7 million), up 25%, reflecting an additional month of tastytrade, FX headwinds, and increases in headcount.

- Profit before tax decreased slightly by 2% to £240.5 million (H1 FY22: £245.2 million), while adjusted profit before tax increased 1% to £260.7 million (H1 FY22: £258.0 million)

- High profit before tax margins of 46.3% (H1 FY22: 52.0%) maintained. Adjusted profit before tax margin was 50.2% (H1 FY22: 55.4%).

- Basic EPS was 45.8 pence (H1 FY22: 48.1 pence). Adjusted basic EPS was 49.7p (H1 FY22: 50.6 pence).

- Approved over £4 million in donations in line with their 1% of adjusted profit after tax commitment to charitable causes.

- Additional return of capital to shareholders in line with new Capital Allocation Framework:

- Bought back £114.1 million shares in the half under the £150 million share buyback scheme announced in July 2022. Shares repurchased as at 24 January 2023 total £126.6 million.

- Extending the share buyback by £50 million, to a total of £200 million.

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