Swissquote shareholders approve distribution of dividend of CHF 1 per share
This year’s distribution to the shareholders amounts to CHF 1.00 (gross) per share. The distribution will be paid as of 16 May 2019.
Swiss provider of online financial and trading services Swissquote Group Holding SA (SWX:SQN) has just posted a notice about the results from its Annual General Meeting held today.
The company announces that its shareholders voted in favour of all the motions put forward by the Board of Directors.
In particular, the shareholders approved the Annual Report, which includes the Management Report, the financial statements of Swissquote Group Holding Ltd and the Group’s consolidated financial statements for the financial year 2018. They also approved the Remuneration Report for 2018 in a consultative vote.
This year’s distribution to the shareholders amounts to CHF 1.00 (gross) per share. The distribution will be paid as of May 16, 2019.
Let’s recall that, during 2018, Swissquote saw its pre-tax profit grow 17.4% to CHF 53.8 million, whereas net profit rose by 13.8% year on year to CHF 44.6 million.
Operating revenues were up 16.2% from the year before to CHF 225.4 million. Net revenues rose 14.3% reaching CHF 214.5 million. Swissquote explains that (with one exception) all four business areas contributed to the record result.
Thus, net fee & commission income rose to CHF 99.5 million on the back of increased trading activity. Net eForex income grew 7.7% to CHF 71.8 million. This growth reflected a larger number of new clients, an increase in client assets and a higher volume of transactions. Net interest income also rose (+68.1%) as a result of the steady rise in short-term interest rates in the US and the growing volumes of client assets in foreign currencies. By contrast, net trading income fell 6.5%.
Operating expenses were 13.2% higher than a year earlier due to investment in technology, marketing and employees.