News & Insights

Media Release: Plato Income Maximiser Limited (ASX:PL8) announces 11% increase in monthly dividends

The Board of PL8 has declared three fully franked dividends of $0.0050 per share payable in April, May and June 2018 – representing an 11% increase to the monthly dividend payments of $0.0045 per share paid for the months of October 2017 through March 2018.

Dr Don Hamson, Director of PL8 and Managing Director of Plato Investment Management Limited, noted that generating income is the number one priority for pension phase investors and based on the inception share price of $1.10 the annualised gross yield including franking has increased to 7.5%, and at current share price is 8.5%1.

“The income strategy has successfully delivered a high level of income without taking material active risks,” he said.

April May June
Amount: $0.005 per share $0.005 per share $0.005 per share
Ex – Dividend Date: 16 April 2018 16 May 2018 14 June 2018
Dividend Record Date: 17 April 2018 17 May 2018 15 June 2018
Dividend Payment Date: 30 April 2018 31 May 2018 29 June 2018

 

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.

Dr Hamson added: “Pension-phase investors represent approximately 20%, or close to $500 billion, of Australia’s $2.5 trillion superannuation pool. Many retirees seek a regular investment income to supplement the government pension.

“Plato understands the challenges faced by self-funded retirees and that is why our investment strategy prioritises regular and sustainable dividend payments, greater than what is currently offered by fixed income and local term deposits.”

Plato also recently received three new ratings for Plato’s income solutions including PL8 and the Plato Global Shares Income Fund. Leading specialist researcher, Independent Investment Research (“IIR”) completed a review of PL8 and awarded it a “recommended plus” rating, while Lonsec and Zenith rated the Global Shares Income Fund “investment grade” and “approved” respectively.