Suncorp Group Limited
(ASX:SUN) will pay a higher than expected full year dividend of 75 cents after finalising the $940 million sale of its non-core asset portfolio to Goldman Sachs.
Suncorp Financial says it will pay a final ordinary dividend of 30 cents per share and a special dividend of 20 cents, beating market expectations.
Suncorp says the group is in a position to pay "well above" its dividend payout guidance of 60 per cent to 80 per cent of cash earnings, now that the non-core bank overhang has been removed.
Net profit from core businesses is expected to come in between $1.21 million to $1.25 million, up from $1.03 million last year.
Suncorp delivered a net profit of $577 million in the first half of fiscal 2013.
