2020 Annual General Meeting presentation Please find attached the - - PDF document

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2020 annual general meeting presentation
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2020 Annual General Meeting presentation Please find attached the - - PDF document

Feb 16, 2023 214 likes •403 views

26 October 2020 The Manager Company Announcements ASX Limited 20 Bridge Street SYDNEY NSW 2000 2020 Annual General Meeting presentation Please find attached the presentation slides which accompany the Chairmans and Managing Directors

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SLIDE 1

26 October 2020 The Manager Company Announcements ASX Limited 20 Bridge Street SYDNEY NSW 2000

2020 Annual General Meeting presentation

Please find attached the presentation slides which accompany the Chairman’s and Managing Director’s Addresses at today’s Annual General Meeting of Argo Investments Limited. Yours faithfully, T.C.A. Binks Chief Operating Officer & Company Secretary

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SLIDE 2

2020 ANNUAL GENERAL MEETING

26 OCTOBER 2020

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SLIDE 3

“Argo’s objective is to maximise long-term returns to shareholders through a balance of capital and dividend growth. It does this by investing in a diversified Australian equities portfolio which is actively managed in a tax-aware manner within a low-cost structure.”

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SLIDE 4

14

Argo

2020 Overview

NTA per share*

$7.27

Profit

$199.5m

Shareholders

92,342

Management expense ratio

0.16%

Full year dividends, fully franked

30.0c

Earnings per share

27.8c

* at 30 June 2020

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SLIDE 5

15

Argo

Annual Dividends cents per share

26 26 26 26 26. 26.5 28 28 29. 29.5 30. 30.5 31 31 31. 31.5 33 33 30 30

5 10 15 20 25 30 35

20 2011 11 20 2012 12 20 2013 13 20 2014 14 20 2015 15 20 2016 16 20 2017 17 20 2018 18 20 2019 19 20 2020 20

interim final

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SLIDE 6

16

Argo

Total Returns to 30 September 2020

5.0%

  • 6.0%

3.6% 6.7% 8.8% 0.2%

  • 12.0%

4.9% 5.9% 8.1%

  • 0.4%
  • 10.2%

7.3% 6.9% 7.3%

3 m months 1 y yea ear 5 years (p (pa) 10 y year ars (pa) a) 20 y year ars (pa) a)

Share price NTA S&P/ASX 200 acc.

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SLIDE 7

17

Argo

Total Returns 20 year return based on $10,000 invested

As at 30 September 2020

$76,270 $53,808 $23,561

2000 2000 2001 2001 2002 2002 2003 2003 2004 2004 2005 2005 2006 2006 2007 2007 2008 2008 2009 2009 2010 2010 2011 2011 2012 2012 2013 2013 2014 2014 2015 2015 2016 2016 2017 2017 2018 2018 2019 2019 2020 2020 + franking credits + dividends paid Share price

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SLIDE 8

MARKET OUTLOOK

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SLIDE 9

Strong balance sheet, no debt Experienced board and management team Long-term, proven investment approach Fully-franked, sustainable dividends Low-cost, internally managed Administratively simple

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SLIDE 10

21

Argo

Household cash flow

150 175 200 225 250 150 175 200 225 250

Mar-20 Jun-20 Sep-20 Dec-20 Mar-21 Jun-21 Sep-21 Dec-21

Employment earnings (ex. Job Keeper/ tax cuts) Dividend earnings Job Keeper (net worker benefit) Bonus payments to welfare recipients Job Seeker supplement (GSe post 2020) Mortgage payment deferrals Superannuation access Accelerated stage 2 tax cuts

A$bn A$bn Source: Goldman Sachs Global Investment Research, ABS, Australian Treasury

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SLIDE 11

22

Argo

Major purchases during the year 30 June 2020

Added to position New position

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SLIDE 12

23

Argo

Major sales during the year 30 June 2020

Reduced position Exited position

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SLIDE 13

24

Argo

Capital raisings

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SLIDE 14

25

Argo

Capital raisings since 30 June 2020

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SLIDE 15

26

Argo

Tech sector performance

ASX S S&P &P200 200 S&P &P50 500 e ex-FA FAANG NASDA DAQ FAAN AANG ASX S S&P &P200 200 - IT IT

Source: Factset

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SLIDE 16

MARKET OUTLOOK

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SLIDE 17

INVESTING FOR OUR SHAREHOLDERS SINCE 1946