Plato triples special dividend

Plato plato income maximiser pl8 listed investment company LIC Don Hamson

3 May 2019
| By Oksana Patron |
image
image
expand image

The board of Plato Income Maximiser (PL8), a listed investment company (LIC), has announced an increase in its special dividend to three cents per share which drove the annual dividend to 11.9 per cent, the firm said.

The board said its decision to increase the dividend from one cent per share to three cents was a result of the bumper dividend payments from which PL8 benefitted and which were made by its portfolio holdings over the previous six months.

The firm also decided to pay a special dividend given the potential adverse impact on many of the company’s shareholders from the ALP’s proposals on franking credits, should they come into effect from 1 July.

“Plato’s active income strategy has successfully delivered a high level of income to its investors since its inception and has actively reaped this latest dividend bonanza. This current financial year will be a record for dividend payments in Australia,” Don Hamson, PL8 and Plato Investment Management’s managing director, said.

“The company is pleased to share the increased returns with our shareholders.”

Read more about:

AUTHOR

Recommended for you

 
sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

 

MARKET INSIGHTS

Old Fella

Of course a survey commissioned by an adviser coaching business would find that having an external business coach is a k...

15 hours 46 minutes ago
One foot out the door

A financial planner is expected to earn between $95,000 and $120,000 per year, depending on the state. Really? I don't...

1 day 1 hour ago
JOHN GILLIES

The whole thing is a bit frightening especially the last note where notes on what might be done could result in the need...

1 day 22 hours ago

ASIC has cancelled the AFS licence of a Sydney wealth firm, the fifth Sydney firm to see a cancellation since the start of the year....

1 week 6 days ago

A former financial adviser has been banned by ASIC from providing financial services for inappropriate advice, among multiple breaches....

4 weeks ago

More than 20 winners from the funds management industry have been crowned at this year’s awards....

1 week ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND