04:54 PM EDT, 05/06/2025 (MT Newswires) -- Propel Holdings ( PRLPF ) Tuesday after hours reported higher adjusted income and revenue for the first quarter that were above estimates as it boosted its dividend by 9%.

The digital lender and fintech company said its adjusted profit, excluding most one-time items, jumped 49% to US$23.4 million, or US$0.55 per share, from US$15.3 million, or US$0.41. The result topped the consensus analyst estimate of US$0.54 per share, according to Capital IQ.

Propel's revenue rose by 44% to US$138.9 million in the quarter, slightly above the US$136.1 million forecast.

The company also announced a 9% dividend increase to $0.72 per share on an annualized basis. Propel will pay the higher quarterly dividend of $0.18 per share on June 4.

"While we remain vigilant in this dynamic environment, our consumers are resilient, and the need for credit remains significant. As banks and other traditional lenders continue to tighten their underwriting, we have an opportunity to introduce Propel's brands to more of the 90 million underserved consumers across the US, the UK and Canada. With our business development pipeline full and additional capital capacity secured, we are well positioned for growth," said Clive Kinross, chief executive officer.

Propel closed down $0.63 to $29.57 on the Toronto Stock Exchange.