Media Release: Plato Income Maximiser (ASX: PL8) announces first three monthly dividends
10 October, 2017: Plato Investment Management Limited (Plato) today announced the first three fully franked monthly dividends of 0.45 cents per share payable in October, November and December 2017.
Details of each dividend are set out as follows:
|Month||October 17||November 17||December 17|
|Amount:||0.45 cents per share||0.45 cents per share||0.45 cents per share|
|Ex – Dividend Date:||16 October 2017||15 November 2017||13 December 2017|
|Dividend Record Date:||17 October 2017||16 November 2017||14 December 2017|
|Dividend Payment Date:||31 October 2017||30 November 2017||29 December 2017|
The declaration of the dividends is in line with the Board’s stated policy to pay regular monthly dividends from available profits, provided it has sufficient reserves and it is permitted by law and within prudent business practices to do so. The Board has initially adopted a conservative approach to dividend payments.
PL8 Director and Plato Investment Management Limited (the manager of PL8) Managing Director, Dr Don Hamson said, “The August reporting season highlighted the benefits of holding a diversified portfolio of income stocks. Traditional income stocks like Commonwealth Bank and Telstra fell significantly in August, whilst the PL8 portfolio had a stable month. Encouragingly the PL8 portfolio outperformed the market in September whilst accumulating significant income.”
The portfolio performance was up 0.5% for the month of September after fees versus the S&P/ASX 200 Franking Credit Adjusted Daily Total Return Index (Tax-Exempt) Benchmark performance of 0.16%.
PL8 Chairman Mr Jonathan Trollip said: “It is pleasing to see PL8 satisfy its stated objective of paying monthly dividends. PL8 is the first listed investment company in Australia to have this objective and it is the intention of the Company to do so on an ongoing basis, subject to quarterly review.”
Shareholders will have the opportunity to meet with the Board of Directors at the inaugural AGM on 2 November 2017. Dr Don Hamson will provide an investment update and we welcome you to attend.