Suncorp : Dividend/Distribution - SUNPH

Notification of dividend / distribution

Announcement Summary

Entity name

SUNCORP GROUP LIMITED

Security on which the Distribution will be paid

SUNPH - CAP NOTE 3-BBSW+3.00% PERP NON-CUM RED T-06-26

Announcement Type

New announcement

Date of this announcement

Friday January 10, 2020

Distribution Amount

$ 0.68070000

Ex Date

Monday March 2, 2020

Record Date

Tuesday March 3, 2020

Payment Date

Tuesday March 17, 2020

Additional Information

The Distribution Rate on SUNPH was determined using the following formula: (Bank Bill Rate + Margin) x (1 - Tax Rate) as follows:

Bank Bill Rate is the 90 day Bank Bill Rate on 17 December 2019: 0.9003%pa

• Margin: 3.0000% = 3.9003%pa
  x (1 - Tax Rate): 0.70
  = Distribution Rate: 2.7302%pa
  The cash amount of the Distribution was calculated as follows: Distribution Rate: 2.7302%pa x Face Value: AUD100
  x days in Distribution Period: 91 / 365
  = cash amount of Distribution: AUD 0.68070000, fully franked.

Refer to below for full details of the announcement

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Announcement Details

Part 1 - Entity and announcement details

1.1 Name of +Entity

SUNCORP GROUP LIMITED

1.2	Registered Number Type	Registration Number
ABN	66145290124
1.3	ASX issuer code
SUN

1. The announcement is New announcement
2. Date of this announcement

Friday January 10, 2020

1.6 ASX +Security Code

SUNPH

ASX +Security Description

CAP NOTE 3-BBSW+3.00% PERP NON-CUM RED T-06-26

Part 2A - All dividends/distributions basic details

2A.1 Type of dividend/distribution

Ordinary

2A.2 The Dividend/distribution:

relates to a period of one quarter

2A.3 The dividend/distribution relates to the financial reporting or payment period ending ended/ending (date)

Monday March 16, 2020

2A.4 +Record Date

Tuesday March 3, 2020

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2A.5 Ex Date

Monday March 2, 2020

2A.6 Payment Date

Tuesday March 17, 2020

2A.7 Are any of the below approvals required for the dividend/distribution before business day 0 of the timetable?

Security holder approval

Court approval

Lodgement of court order with +ASIC

ACCC approval

FIRB approval

Another approval/condition external to the entity required before business day 0 of the timetable for the dividend/distribution.

No

2A.8 Currency in which the dividend/distribution is made ("primary currency")

AUD - Australian Dollar

2A.9 Total dividend/distribution payment amount per +security (in primary currency) for all dividends/distributions notified in this form

$ 0.68070000

2A.10 Does the entity have arrangements relating to the currency in which the dividend/distribution is paid to securityholders that it wishes to disclose to the market? No

2A.11 Does the entity have a securities plan for dividends/distributions on this +security?

We do not have a securities plan for dividends/distributions on this security

2A.12 Does the +entity have tax component information apart from franking?

No

Part 3A - Ordinary dividend/distribution

3A.1 Is the ordinary dividend/distribution estimated at this time?

No

3A.1b Ordinary Dividend/distribution amount per security

$ 0.68070000

Estimated or Actual?

Actual

3A.1a Ordinary dividend/distribution estimated amount per +security

$

3A.2 Is the ordinary dividend/distribution franked? Yes

3A.2a Is the ordinary dividend/distribution fully franked? Yes

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3A.3 Percentage of ordinary dividend/distribution that is	3A.3a Applicable corporate tax rate for franking credit
franked	(%)
100.0000 %	30.0000 %

3A.4 Ordinary dividend/distribution franked amount per +security

$ 0.68070000

3A.6 Ordinary dividend/distribution unfranked amount per +security excluding conduit foreign income amount

$ 0.00000000

3A.7 Ordinary dividend/distribution conduit foreign income amount per security

$ 0.00000000

Part 3D - Preference +security distribution rate details

3A.5 Percentage amount of dividend which is unfranked

0.0000 %

3D.1	Start date of payment period	3D.2 End date of payment period
Tuesday December 17, 2019	Monday March 16, 2020
3D.3	Date dividend/distribution rate is set (optional)
Tuesday December 17, 2019

3D.4 Describe how the date that dividend/distribution rate is set is determined

The first business day of the distribution period.

3D.5 Number of days in the dividend/distribution period

91

3D.6 Dividend/distribution base rate (pa)

0.9003 %

3D.7 Comments on how dividend/distribution base rate is set

This is the 90 Day Bank Bill Rate on the first day of the period.

3D.8 Dividend/distribution margin

3.0000 %

3D.9 Comments on how dividend/distribution margin is set

Margin is defined in the Suncorp Capital Notes 3 Prospectus dated 19 November 2019.

3D.10 Any other rate / multiplier used in calculating dividend/distribution rate

-1.1701 %

3D.11 Comments on how other rate used in calculating dividend/distribution rate is set

Other rate = A - B where:

A = (Bank Bill Rate + Margin) x (1 - tax rate of 30%)

B = (Bank Bill Rate + Margin)

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3D.12 Total dividend/distribution rate for the period (pa)

2.7302 %

3D.13 Comment on how total distribution rate is set

Total Distribution Rate = (Distribution Base Rate + Distribution Margin) x (1 - tax rate of 30%)

Part 5 - Further information

5.1 Please provide any further information applicable to this dividend/distribution

Note that under the Suncorp Capital Notes 3 terms and conditions, Suncorp Group Limited has the discretion to make or not make the distribution in full. The website for more information about Suncorp Capital Notes 3 is: https://www.suncorpgroup.com.au/investors/securities/suncorp-group-limited-capital-notes-3

5.2 Additional information for inclusion in the Announcement Summary

The Distribution Rate on SUNPH was determined using the following formula: (Bank Bill Rate + Margin) x (1 - Tax Rate) as follows:

Bank Bill Rate is the 90 day Bank Bill Rate on 17 December 2019: 0.9003%pa

• Margin: 3.0000% = 3.9003%pa
  x (1 - Tax Rate): 0.70
  = Distribution Rate: 2.7302%pa
  The cash amount of the Distribution was calculated as follows: Distribution Rate: 2.7302%pa x Face Value: AUD100
  x days in Distribution Period: 91 / 365
  = cash amount of Distribution: AUD 0.68070000, fully franked.

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