Suncorp to pay dividend of 8 cents per share

Company News

by Katrina Bullock

Insurance and banking services provider Suncorp (ASX:SUN) are set to pay a fully franked special dividend of 8 cents per share on 3 May 2019.

The dividend will follow the successful completion of the sale of its Australian Life Business to TAL Dai-ichi Life Australia.

Suncorp expects to return approximately $600 million of capital from the sale to shareholders.

This special dividend will equate to around $100 million of the net proceeds from the sale.

Subject to shareholder approval the remaining $500 million is expected to be distributed via a pro-rata return of share capital and share consolidation.

Shares in Suncorp (ASX:SUN) are trading 1.21 per cent higher at $13.35.

Katrina Bullock

Finance News Network
Katrina joined FNN in 2018. She holds a Bachelor of Laws (Honours first class), a Bachelor of Business (Distinction) and is currently undertaking a PhD in Law focused on stock exchange disclosures and corporate governance. She previously worked as a corporate lawyer in an Australian top tier commercial law firm and is currently the General Counsel for Greenpeace Australia Pacific.