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Suncorp Group Limited ( (AU:SUN) ) just unveiled an announcement.
Suncorp Group Limited has announced a significant capital return to its shareholders following the sale of Suncorp Bank. The company is distributing $4.1 billion net proceeds from the sale, which includes a $3.8 billion capital return and a fully franked special dividend of 22 cents per share. This move is accompanied by a pro-rata share consolidation to maintain each shareholder’s proportional interest in the company. These actions are part of Suncorp’s strategic focus on enhancing shareholder value and streamlining its business operations.
More about Suncorp Group Limited
Suncorp Group Limited is a diversified financial services company operating primarily in the insurance and banking sectors. It provides a range of insurance products including general insurance, reinsurance, and investment services, with a market focus on Australia and New Zealand.
YTD Price Performance: 4.41%
Average Trading Volume: 6,493
Technical Sentiment Consensus Rating: Strong Sell
Current Market Cap: $16.13B
See more insights into SUN stock on TipRanks’ Stock Analysis page.
