Suncorp (SUN)
What happens to my SUN shares after the ANZ takeover?
The Latest Q&A
Answer
Hi Sue,
Your Suncorp (SUN) shares are trading as normal on the ASX although a couple of things did transpire after ANZ bought the companies banking arm:
- SUN is now a pure insurance business as opposed to an insurance & banking conglomerate.
- Assuming you owned SUN through the takeover on the 12th of February you will have been entitled to a $3.52485 (unfranked) return of capital, a 48.173c fully franked interim dividend and a 25.8489c fully franked Special Cash Return.
- The return of capital was due on the 5th of March while the two dividends will be paid on the 18th.
- The stock was consolidated on the 17th of February, on the ratio of 0.8511 to 1, in simple terms the stock is trading at a lower price after the above payouts.
