Washington H. Soul Pattinson And Company Limited · ASX:SOL
Washington H. Soul Pattinson And — Shareholder Meeting (November 2024)
23 slides from Washington H. Soul Pattinson And's shareholder meeting presentation, Nov 22, 2024
Slide 1: ASX Announcement: 2024 Annual General Meeting
Level 14 151 Clarence Street Sydney NSW 2000 Australia GPO Box 5015 Sydney NSW 2001 +61 2 9210 7070 info@SoulPatts.com.au SoulPatts.com.au 22 November 2024 ASX Announcement 2024 Annual General Meeting For personal use only Diversified investment house, Washington H. Soul Pattinson and Company Limite
Slide 2: Chairman's Address
Chairman’s Address Good afternoon, ladies and gentlemen and welcome to the 121st Washington H. Soul Pattinson Annual General Meeting. I am Robert Millner, Chairman of the Board. I am advised that a quorum is present, therefore I am delighted to officially declare the Meeting open. It is a pleasure t
Slide 3: Chairman's Address: Board changes
alongside the registration table, or by handing your voting card to a Computershare representative at the end of the meeting. The final results will be released to the ASX and posted on the Soul Patts’ website later today. Today's AGM allows shareholders or their representatives to ask questions bot
Slide 4: Chairman's Address: Dividends
the story of an unbroken run of increasing dividends that no other ASX listed company has matched. The Board has declared a final dividend of 55 cents per share, bringing the total dividends for the year to 95 cents fully franked, that is a 9.2% increase over the previous year. Since 2000, ordinary
Slide 5: Managing Director and CEO's Address
Managing Director and CEO’s Address Thank you, Rob and good afternoon. I also would like to extend a warm welcome to everyone in the room and to those joining us online. I would like to start by thanking the Chairman and the Board for their guidance and stewardship throughout the year. Shareholders
Slide 6: CEO's Address: Net Asset Value and performance
which required us to be more active than usual. On a net basis, we deployed over $800m of cash which left our cash balances low at year end. In August this year, we topped up our cash position with an equity and bond raising. This leaves Soul Patts with ample financial flexibility to respond to new
Slide 7: Annual General Meeting Financial Year 2024
For personal use only Annual General Meeting Financial Year 2024 22 November 2024 SoulPatts.com.au
Slide 8: Chairman's Address
For personal use only Chairman’s Address
Slide 9: Board of Directors
Board of Directors For personal use only Robert Millner AO Todd Barlow David Baxby Tiffany Fuller Chairman Managing Director & CEO Non-Executive Director Non-Executive Director Michael Hawker AM Bruce MacDiarmid Joe Pollard Josephine Sukkar AM Lead Independent Director Non-Executive Director Non-Exe
Slide 10: Agenda
Agenda For personal use only Chairman’s Address Managing Director & CEO’s Presentation Formal Business Questions
Slide 11: Board changes
Board changes For personal use only Michael Hawker AM Bruce MacDiarmid David Baxby Lead Independent Director Non-Executive Director Non-Executive Director Chair Nomination Committee, Chair Member of the Risk and Audit Member of the Nomination, Risk and Risk Committee, Member of the Audit Committees
Slide 12: Consecutive dividend growth
24 years consecutive dividend growth Ordinary interim and final dividend increases at a CAGR of 9.6% 3-year CAGR For personal use only 15.3% FY24 ordinary dividends of 95 cents per share (fully franked), 9.2% higher than pcp • Record date: 16 October 2024 • Payment date: 8 November 2024 final divide
Slide 13: Sustainable long-term performance
Sustainable long-term performance Capital and income growth through share price and dividends Cumulative performance to 31 July 2024 (including reinvestment of dividends) For personal use only Soul Patts’ Total Shareholder Return compounded at 11.7% p.a., outperforming market over 20 years by 3.0% p
Slide 14: Managing Director & CEO's Presentation
For personal use only Managing Director & CEO’s Presentation
Slide 15: FY24 highlights
FY24 highlights Shareholders People Communities • Strong performance, strategy continues to deliver For personal use only – growth in cash flows – increased portfolio value – well-managed investment risk • Long-term value creation – smart portfolio allocation choices – momentum in investment activit
Slide 16: Delivering against strategy
Delivering against strategy Long-term commitment, strength of conviction and unconstrained mandate creating value For personal use only 1 Increase cash generation 2 Grow the portfolio 3 Manage investment risk Net Cash Flow From Investments Net Asset Value (pre-tax) per share Transaction activity ▲ 1
Slide 17: Net Asset Value
Net Asset Value For personal use only Net Asset Value (pre-tax) • NAV increase of 8.7% to $11.8 billion in FY24 • Adjusted for dividends, this represents a return of 12% FY24 $11.8b1 • Strong performance across all portfolios reflects active capital allocation to new investments ↑ 8.7% vs pcp FY24 P
Slide 18: Generating enduring value: 3-year performance
Generating enduring value: 3-year performance Milton acquisition transformative, delivered significant strategic and financial momentum For personal use only 1 Increase cash generation 2 Grow the portfolio 3 Manage investment risk Net Cash Flow From Investments Net Asset Value (pre-tax) per share Tr
Slide 19: Formal Business
For personal use only Formal Business
Slide 20: Formal items of business
Formal items of business For personal use only To receive and consider the Financial Report, the Directors’ Report and the Auditor’s Report of the Item 1: Financial Report Company for the Financial Year ended 31 July 2024 Item 2: Director election To elect Bruce MacDiarmid as a Director of the Compa
Slide 21: Proxy votes
Proxy votes Item For Against Open Total Abstain For personal use only Item 1: Financial Report - - - - - No resolution required for this item of business Item 2: Election of Bruce MacDiarmid 97.34% 0.10% 2.56% 213,739,148 314,215 Item 3: Adoption of the Remuneration Report 91.34% 5.79% 2.87% 189,298
Slide 22: Questions
For personal use only Questions
Slide 23: Disclaimer
For personal use only Disclaimer This document has been prepared by Washington H. Soul Pattinson and Company Limited (‘Soul Patts’). All information contained in this document (including this notice) (‘Information’) is confidential. By receiving the Information you are deemed to agree that you will
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