Why it matters: Hub24 has 6 per cent of the $982 billion investment platform market.
It will buy back $50 million of shares on-market.
Hub24 declared a final dividend of 18.5¢ a share.
Investment platform business Hub24 says strong profit growth means it can fund a share buyback worth up to $50 million over the next 12 months as it aims to attract more self-directed superannuation investors and financial advisers.
The stock rallied 14 per cent to $32.
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Tom Richardson writes and comments on markets including equities, debt, crypto, software, banking, payments, and regulation. He worked in asset management at Bank of New York Mellon and is a member of the CFA Society of the UK as a holder of the Investment Management Certificate. Connect with Tom on Twitter. Email Tom at tom.richardson@afr.com
