Cadence Capital Limited · ASX:CDM
Cadence Capital — FY2012 Earnings Presentation
16 slides from Cadence Capital's earnings presentation, Sep 3, 2012
Slide 1: June 2012 Year End Webcast Presentation
For personal use only JUNE 2012 YEAR END WEBCAST PRESENTATION Please find Cadence Capital Limited’s year end quarterly webcast presentation attached. We would encourage you to watch this webcast which can be found in the “News and Views” section of our website at www.cadencecapital.com.au . Kind reg
Slide 2: Cadence Capital Limited Quarterly Webcast June 2012
For personal use only Cadence Capital Limited Quarterly Webcast June 2012
Slide 3: Fund Performance
Fund Performance For personal use only • Gross portfolio up +5.49% outperformed the All Ordinaries Accumulation Index by 12.53% and Small Ordinaries Accumulation Index by 20.10% for year to 30 June 2012. This was achieved whilst holding on average 33% in cash. • Positions that performed well in 2012
Slide 4: Shareholder Return - 3 years
Shareholder Return -3 years For personal use only CDM All Ords Source: E.L. & C. Baillieu Stockbroking Ltd - Listed Investment Companies - Sector Report - 18 July 2012 Page 2
Slide 5: Shareholder Return
Shareholder Return 5 years For personal use only CDM All Ords Source: E.L. & C. Baillieu Stockbroking Ltd - Listed Investment Companies - Sector Report - 18 July 2012 Page 3
Slide 6: Dividend Yield
Dividend Yield For personal use only CDM Source: E.L. & C. Baillieu Stockbroking Ltd - Listed Investment Companies - Sector Report - 18 July 2012 Page 4
Slide 7: Portfolio Update
Portfolio Update For personal use only •RHG Ltd (RHG) – recently confirmed full year profit guidance of $39 to $44 million. Future fully franked dividends paid by RHG should continue to increase franking credits available to CDM shareholders. •Reckon (RKN) – profit of $9.3m for the half year ended J
Slide 8: Portfolio Update
Portfolio Update For personal use only •Flexigroup (FXL) – recently announced full year profit of $61.3 million which is up 16% compared to last year, and exceeded guidance. FXL gave guidance for next year of 11% to 16% profit growth. Track record of strong profit growth continues. The CEO is to ste
Slide 9: Dividends FY 2012
Dividends FY 2012 For personal use only • Record 8.0 cent fully franked full year dividend: 4.0 cent final and 4.0 cent special dividend. • DRP is operating at a 3% discount. • On the current CDM share price of $1.30 this full year dividend represents a 6.15% yield • The 12.5 cents of dividends paid
Slide 10: Dividends FY 2013 Estimate
Dividends FY 2013 Estimate For personal use only • The company’s stated dividend policy is to have a continuous and growing dividend over time • Assuming an interim and final dividend of 4 cents per share for 2013 and, excluding potential special dividends, the dividend yield over the next 13 months
Slide 11: Franking and Tax Credits
Franking and Tax Credits For personal use only Franking Credits • CDM has accumulated significant Franking Credits allowing the payment of approximately 21 cents of Fully Franked Dividends before earning any future profits or dividends. • These franking credits create relative certainty around divid
Slide 12: Options
Options For personal use only • Cadence Capital Limited $1.25 Options expire on the 15th September 2012. • Options exercised will receive the 8.0 cent fully franked full year dividend. • As at 15th August 2012 the Estimated Pre and Post Tax NTA’s are $1.345 and $1.415 respectively and CDM close pric
Slide 13: Options
Options For personal use only • These options, ASX code CDMO, have value and we would encourage owners to exercise the options, or alternatively, to sell the options on market should they not wish to exercise them. As at 15th August 2012 CDMO was trading at $0.042. • The last day they can be traded
Slide 14: Summary and Outlook
Summary and Outlook For personal use only Performance* to 31st July 2012 CDM** All Ords Outperformance 1 Month 3.93% 3.74% +0.19% 1 Year 8.38% -0.17% +8.55% 2 Years 90.66% 3.78% +86.88% 3 Years 125.74% 14.33% +111.41% 4 Years 113.76% 1.11% +112.65% 5 Years 70.18% -14.12% +84.30% Since Inception (82
Slide 15: Summary and Outlook
Summary and Outlook • For personal use only The CDM investment approach remains unchanged since inception and since listing 6 years ago. • We will continue to seek out stock specific and industry specific returns. • The macroeconomic environment, uncertainty and ambiguity currently being experienced
Slide 16: Summary and Outlook
Summary and Outlook For personal use only • A high performing and highly ranked Listed Investment Company. • Amongst the highest yielding Listed Investment Companies. • Relatively ‘locked in’ dividend stream for the year ahead and for the medium term. • The CDM DRP will be operational this year with