Plato Income Maximiser Ltd. · ASX:PL8
Plato Income Maximiser — Investor Presentation (November 2023)
23 slides from Plato Income Maximiser's investor presentation, Nov 28, 2023
Slide 1: Shareholder webinar and presentation on Share Purchase Plan
Plato Income Maximiser Limited Level 25, 264 George Street 28 November 2023 Sydney NSW 2000 T: 1300 010 311 E: invest@plato.com.au By Electronic Lodgement ABN 63 616 746 215 Market Announcements Office ASX Limited 20 Bridge Street Sydney NSW 2000 Dear Sir/Madam Shareholder webinar and presentation o
Slide 2: Share Purchase Plan Webinar
SHARE PURCHASE PLAN WEBINAR PLATO INCOME MAXIMISER LIMITED ASX: PL8 28 November 2023 For personal use only 1
Slide 3: Disclaimer
Disclaimer Note: Past performance is not a reliable indicator of future performance. About this presentation This communication has been prepared by Plato Income Maximiser Limited ABN 63 616 746 215 (PL8) and Plato Investment Management Limited AFSL 504616 ABN 77 120 730 136 (‘Plato’), the investmen
Slide 4: Agenda
Agenda 01 SPP Overview For personal use only 02 Investment Update 03 Questions 3
Slide 5: Share Purchase Plan Overview
For personal use only Share Purchase Plan Overview 4
Slide 6: PL8 Share Purchase Plan
PL8 Share Purchase Plan Share Purchase Plan (SPP) • The SPP is an opportunity for Eligible Shareholders (PL8 shareholders on the record date of 20 November 2023) to purchase up to $30,000 worth of new fully paid ordinary shares (New Shares) without incurring brokerage (minimum purchase of $2,500) Fo
Slide 7: PL8 Share Purchase Plan: Rationale
PL8 Share Purchase Plan Rationale • Enable existing shareholders to invest additional capital at closer to NTA, a meaningful discount to the prevailing share price prior to the announcement of the SPP For personal use only • Feedback from shareholders on the SPP undertaken by PL8 in 2021 and 2022 on
Slide 8: Share Price / Pre-tax NTA
For personal use only 7 Share Price / Pre-tax NTA $0.75 $0.80 $0.85 $0.90 $0.95 $1.00 $1.05 $1.10 $1.15 $1.20 $1.25 $1.30 $1.35 Apr-17 May-17 Jun-17 Jul-17 Aug-17 Sep-17 Oct-17 Nov-17 Dec-17 Jan-18 Feb-18 Mar-18 Apr-18 May-18 Jun-18 Jul-18 Aug-18 Sep-18 Oct-18 Nov-18 Dec-18 Source: Plato, IRESS. Pas
Slide 9: Dividends
Dividends MONTHLY DIVIDENDS STABLE AT $0.0055 PER SHARE1 Monthly Dividends 0.6 For personal use only 0.5 0.4 Cents per share 0.3 0.2 0.1 0 Monthly Dividends at highest level since IPO 1 The chart refers only to the monthly PL8 dividends. PL8 has paid two special dividends that are not included in th
Slide 10: PL8 Share Purchase Plan: How to apply
PL8 Share Purchase Plan How to apply • The Booklet and your personalised Application Form will be sent to you on 23 November 2023 either by email or post (depending on your shareholder communication preference set up with the PL8 share registry Automic) For personal use only • You can also access yo
Slide 11: Investment Update
For personal use only 10 Investment Update
Slide 12: PL8 delivering high income month realised yield
PL8 delivering high income 12 month realised yield* 9.0% 8.0% For personal use only 7.0% 6.0% 5.0% 4.0% 3.0% 2.0% 1.0% 0.0% S&P/ASX 200 PL8 CASH 4.1 5.4 FRANKING 1.4 2.3 *to 31 October 2023, after fees Source: Plato, Bloomberg Past performance is not a reliable indicator of future performance 11
Slide 13: Chart of Plato Income Performance – to October 2023
Chart of Plato Income Performance – to 31 October 2023 $450,000 Plato Aust. Shares Income Fund v S&P/ ASX200 Accumulation Series (incl. Franking Credits) Indexed to $100k since inception $400,000 For personal use only $350,000 $300,000 $250,000 $200,000 $150,000 $100,000 $50,000 $0 Sep-11 Sep-12 Sep
Slide 14: Significant uncertainty
Significant uncertainty IT WAS THE WORST OF TIMES • High inflation – highest in 30 years • Rapidly rising interest rates - biggest rise ever in cash rate For personal use only • War in Ukraine and Middle East • House prices fell in 2022 • Bonds and equities sold off together in 2022 • Tax changes on
Slide 15: Are things that bad?
Are things that bad? • Economy is at full employment • Official overnight cash rate is still close to “normal” lows For personal use only • Inflation has peaked, trending down • Corporate balance sheets are strong, debt levels generally low • House prices still well above pre-COVID levels and rising
Slide 16: Safe assets now losing you money big time
Safe assets now losing you money big time REAL AFTER INFLATION EARNINGS ON $1M $120,000 $100,000 For personal use only $80,000 $60,000 $40,000 $20,000 $- -$20,000 -$40,000 -$60,000 -$80,000 Real Earnings Term Deposits Real Earnings Bonds “Inflation peaked at 7.8% now 5.4%” Source: Plato, RBA updated
Slide 17: Results season August 2023 - Dividends
Results season August 2023 - Dividends DIVIDENDS UP BUT SOME RETRACEMENT • Over $29bn in dividends have been declared, 21.2% less than last year. Aug 2023 Change in Dividends pcp For personal use only • Strong dividend increases: Average Median – IAG (80%), QBE Insurance (56%), Suncorp (59%), Common
Slide 18: Reporting Season Analysis: CBA
Reporting Season Analysis CBA For personal use only • Good result, FY23 Cash NPAT of $10,164m, up 6% from PCP but down 3% vs 1H given peak in margins. • Final Dividend 240c vs 210c last year, up 14%. Equates to 6.5% annual gross yield. • Payout Ratio 74% of FY23 Earnings • Bad debts of 12bps. • Depo
Slide 19: Reporting Season Analysis: Woodside Energy
Reporting Season Analysis WOODSIDE ENERGY For personal use only • Underlying Profit US$1,896m, up 4% on last year. Earnings slightly below expectations but strong cashflow up 17%. • Interim dividend of US$0.80, down 27% (last year’s div boosted by BHP merger completion payment, up 5% otherwise). Equ
Slide 20: Large Aussie income stocks
Large Aussie income stocks 7 STOCKS ACCOUNT FOR 57% OF ALL DIVIDENDS % of Gross Dividend Income - FY23 Price Performance 1.40 For personal use only 1.30 1.20 BHP 1.10 Woodside Energy 1.00 Commonwealth Bank 0.90 National Australia Bank 0.80 Westpac ANZ 0.70 Fortescue 0.60 Other 0.50 ASX200 Telstra Bi
Slide 21: Average % chance of dividend cuts for Australian market
For personal use only 20 10% 15% 20% 25% 30% 35% 40% 45% 50% 0% 5% 200112 200206 200212 200306 200312 200406 200412 200506 Source: Plato, based on MSCI World IMI (Australian portion) 200512 200606 200612 200706 200712 200806 200812 200906 200912 201006 201012 AVERAGE % CHANCE OF DIVIDEND CUTS FOR AU
Slide 22: Conclusion
Conclusion Bad news: Interest rates are rising challenging asset prices – But real returns on term deposits are negative as inflation rises faster For personal use only Good news: Dividends are still strong after rebounding last year – Plato dividend cut model only a little above average – Strong di
Slide 23: Questions
For personal use only 22 Questions
Plato Income Maximiser — Investor Presentation (November 2023) on 6ix