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ANZ purchase of Suncorp

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Question asked

ANZ purchase of Suncorp

how much will suncorp shareholders get

Answer

Hi Bill,

We were asked this a few weeks ago, not a great deal to add:

The sale of Suncorp’s banking arm to ANZ Group for $4.9bn was finalised back in July. However, the proceeds wont be delivered to shareholders until 2025.

  • The expectation is for ~$4.1bn to be returned to shareholders but the exact amount and special dividend details wont be known until the March quarter of 2025 according to SUN.

Expectations are for a payout during Q3 FY25, worth around $3.5bn ($2.75 per share) plus a special dividend of $300m (24c per share).

NB Together with next 12m ordinary dividends, this represents 22% of SUN’s current market cap.

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Suncorp Group Ltd (SUN)
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