Suncorp announces capital return and share consolidation for ordinary shareholders

The return of the $4.1 billion net proceeds from the sale will take two forms:

1. A fully franked special dividend of $0.22 per share (representing $0.3 billion of the return). A special dividend is a simple way to return proceeds and allows Suncorp to pass on the franking credits generated from the sale to shareholders; and
2. A cash payment to shareholders of $3.00 per share (representing $3.8 billion of the return), also known as the capital return.

The capital return will be accompanied by a share consolidation which will reduce the number of shares outstanding in proportion to the amount of capital returned. The purpose of the share consolidation is to adjust for the impact of the capital return on the share price.

The capital return and accompanying share consolidation were approved by Shareholders at Suncorp’s 2024 Annual General meeting held on 22 October 2024.

The capital return will be paid on 5 March 2025, and the fully franked special dividend will be paid alongside the interim ordinary dividend on 14 March 2025.

Suncorp advises all shareholders to seek their own taxation advice regarding the consequences of the capital return.

Shareholders with queries relating to their individual holdings or who which to update their banking details should contact MUFG Corporate Markets Limited (previously Link Market Services) on 1300 882 012 (within Australia) or +61 2 8767 1219 (outside Australia) or online via au.investorcentre.mpms.mufg.com

See fact sheet for additional information.