StockMarketWire.com - Online trading brokerage CMC markets hiked its dividend after reporting that annual profit more than doubled as a wave of new clients bolstered trading revenue.

For the year ended 31 March 2021, pre-tax profit was up 127% to £224.0 million year-on-year as net operating income jumped 63% to £409.8 million.

CFD revenue per active client up 22% to £4,560 as active clients increased by 34% to 19,389.

Stockbroking net trading revenue up was 72% to £54.8m. driven by 'higher client numbers (up 28%) and the increasing appeal of the international shares offering,' the company said.

A final dividend of 21.43 pence per share was declared, taking the total dividend to 30.63 pence per share, up 104% from last year.

Looking ahead, the company said it believes that existing active client levels are likely to be sustainable, adding that it was 'confident in achieving net operating income in excess of £330 million for 2022.'

'The monthly active client base has remained strong at the start of 2022 representing ongoing trading appetite, however client trading activity has moderated from prior elevated levels,' the company said.

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