Suncorp Confirms Fully Franked AUD 0.49 Dividend with Clear Currency Terms
Suncorp Group Limited has updated its dividend details for the half-year ending June 2025, confirming a fully franked ordinary dividend of AUD 0.49 per share payable in September, with clarified currency payment arrangements.
- Ordinary dividend of AUD 0.49 per share, fully franked
- Dividend payable on 24 September 2025
- Dividend payments in AUD and NZD based on shareholder banking instructions
- Dividend Reinvestment Plan (DRP) available with no discount
- No external approvals required prior to dividend payment
Dividend Update and Payment Details
Suncorp Group Limited has issued an update to its dividend notification for the six-month period ending 30 June 2025. The company confirmed an ordinary dividend of AUD 0.49 per fully paid ordinary share, fully franked at the corporate tax rate of 30%. This dividend is scheduled for payment on 24 September 2025, with the record date set at 20 August 2025 and the ex-dividend date on 19 August 2025.
Currency Arrangements Clarified
A key feature of this update is the detailed clarification of currency arrangements for dividend payments. Shareholders with Australian bank accounts will receive their dividends in Australian dollars, while those with New Zealand bank accounts will be paid in New Zealand dollars. For shareholders without specified banking instructions, payments will be withheld in the currency corresponding to their registered address, Australian dollars for Australian and other overseas shareholders (excluding New Zealand), and New Zealand dollars for New Zealand-registered shareholders.
The exchange rate for converting Australian dollars to New Zealand dollars is fixed at 1.1054 AUD/NZD, based on the Reserve Bank of Australia's foreign exchange rate as of 20 August 2025. This ensures transparency and predictability for New Zealand shareholders receiving their dividends in local currency.
Dividend Reinvestment Plan Details
Suncorp’s Dividend Reinvestment Plan (DRP) remains active for this dividend, allowing shareholders to reinvest their dividends into additional shares rather than receiving cash. Notably, the DRP will be offered with no discount on the reinvestment price, and participation is limited to shareholders with registered addresses in Australia, New Zealand, the United Kingdom, or Hong Kong. The DRP price will be calculated based on the volume weighted average price (VWAP) over a specified period starting 26 August 2025, with the issue date for DRP shares set for 4 September 2025.
Shareholders who do not elect to participate in the DRP will receive their dividend payments in cash by default. The deadline for DRP election lodgement is 21 August 2025 at 5, 00 pm.
Regulatory and Approval Status
Suncorp confirmed that no external approvals, such as security holder, court, or regulatory body approvals, are required before the dividend payment. This streamlines the payment process and provides certainty to investors regarding the timing and execution of the dividend distribution.
Overall, this update provides shareholders with comprehensive information on dividend payment logistics, currency options, and reinvestment opportunities, reinforcing Suncorp’s commitment to transparent communication and shareholder value.
Bottom Line?
Investors should watch for the final DRP pricing and monitor currency impacts as the payment date approaches.
Questions in the middle?
- What will be the exact DRP share price once calculated?
- How might currency fluctuations affect New Zealand dollar dividend payments?
- Will Suncorp maintain this dividend level amid evolving market conditions?
