Plato Income Maximiser (ASX:PL8) Declares Monthly Dividend of A$0.0055

Plato Income Maximiser Limited (ASX:PL8) has announced a monthly dividend of A$0.0055 per share, payable in July, August, and September 2024. This dividend is fully franked and continues the level of dividends paid during the June 2024 quarter. The declaration of dividends is at the full discretion of the Board.


The Company's investments delivered a total return of 10.1% p.a. (after fees) and distributed a yield of 7.6% p.a. (incl. franking) since inception, compared to the S&P/ASX 200 Franking Credit Adjusted Daily Total Return Index (Tax-Exempt) ('Benchmark') return of 10.1% p.a. and a yield of 5.3% p.a.


The largest positive contributors to the Company's performance during the month were overweight positions in JB Hi-Fi, Super Retail, and Ventia, as well as underweight positions in South32 and Wisetech. However, overweight positions in Origin Energy and Woodside, as well as underweight positions in Newmont, GPT Group, and Mirvac, detracted from relative performance.

The Company remains actively positioned to seek superior income than the benchmark, aligning with its long-term income generation strategy. This dividend payout is in line with the Company's objective to generate annual income (including franking credits) and outperform the Benchmark in total return terms over the investment cycle.

This dividend payout is expected to have a positive impact on the investment portfolio of shareholders, particularly SMSF and pension-phase investors, as it provides a steady income stream. The Company's consistent dividend payouts contribute to its stability and sustainability, enhancing its long-term investment appeal.