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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Notification of dividend / distribution
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 |
- The announcement is New announcement
- 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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Notification of dividend / distribution
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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Disclaimer
Suncorp Group Ltd. published this content on 10 January 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 January 2020 05:57:05 UTC