Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
Hi Market Matters Team Can I have your current view on Suncorp. Can you provide dates when the sale of Suncorp bank to ANZ will be finalized and when Shareholders can expect to receive some return of capital from the sale. Would you know the amount expected to be paid and would part of this return be a fully franked dividend? regards Debra
Hi Debra,
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.
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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