Plato Income Maximiser (PL8) H1 2026 earnings summary

Executive summary

• Net profit after tax for the half-year ended 31 December 2025 was AUD 28.44 million, down from AUD 39.71 million in the prior period, reflecting weaker Australian markets.

• Portfolio delivered a 4.8% total return for the half-year, outperforming the benchmark by 0.6%.

• Monthly fully franked dividends of $0.0055 per share have been maintained since October 2017, with further dividends resolved for early 2026.

• Share price has consistently traded at a premium to NTA, reflecting strong demand for regular income.

• The company continues to provide access to a diversified, actively managed portfolio of Australian listed equities.

Financial highlights

• Total dividends paid were $0.033 per share over six months, representing a 3.3% distributed yield, 1.2% above the market yield.

• Pre-tax NTA per share at 31 December 2025 was $1.153, slightly down from $1.161 at the start of the period.

• 12-month realised yield was 4.9% (including franking credits), compared to the market's 4.2%.

• Total investment income for the half-year was $34.74 million, with expenses of $4.15 million.

• Net assets at 31 December 2025 were $860.23 million, up from $856.50 million at 30 June 2025.

Outlook and guidance

• Early signs of dividend increases from resource stocks, particularly BHP, Rio, and Fortescue, suggest potential for higher market dividends in 2026.

• Dividend outlook for the Australian market remains stable, with cautious optimism amid global trade tariffs and recent rises in commodity prices.

• Industrial and financial companies like JB Hi-Fi and CBA continue to deliver solid dividend growth.

• The company aims to continue paying regular monthly dividends, subject to available profits and prudent business practices.

• Dividend increases depend on sustained market dividend growth and rebuilding franking credit reserves.