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ASX rises, RBA minutes show focus on household spending

Platinum Capital final dividend 3¢

Listed investment company Platinum Capital declared a final dividend of 3¢ a share, down from 4¢, after reporting a portfolio loss of 6.3 per cent for the 2022 financial year.

That’s slightly ahead of the 8 per cent loss cited for global markets over 2021-22 in Australian dollar terms. However, on a total return basis the LIC fell 11 per cent because of the share price discount relative to its actual portfolio value.

The final dividend will be paid September 15 and is fully franked. Based on the interim dividend of 3¢ a share, annual dividends for 2022 were 1¢ lower than financial 2021 when the LIC paid out 7¢ a share.

The Platinum-managed strategy succeeded deploying shorts; over the June half, the portfolio beat its benchmark with a loss of 7.5 per cent versus the larger 15.6 per cent decline in the MSCI index.

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    Original URL: https://www.afr.com/markets/equity-markets/asx-to-rise-results-pending-from-bhp-goodman-group-james-hardie-20220816-p5ba3n