Suncorp net profit slips

Insurer's results weighed by sale of non-core bank, will still pay a fully-franked special dividend of 20 cents.

By Staff Reporter ·
21 Aug 2013

Suncorp Group's (SUL) full-year net profit took a hit after the sale of its non-core bank earlier this year, but the insurer still paid a special dividend.

In the year to June 30, Suncorp's net profit fell 32.18% to $491 million from $728 million in 2012, in the middle of the company's guidance for between $480 million and $500 million announced at the end of July.

The result included an after tax loss of $632 million for the sale of Suncorp's non-core bank

In the same period revenue was $16.186 billion, a slight 0.78% increase on the previous year.

Suncorp will pay a fully-franked final dividend of 30 cents to shareholders on the register as at August 30.

Combined with its interim dividend of 25 cents, Suncorp's total dividend came to 55 cents.

Suncorp will also pay a fully-franked special dividend of 20 cents on October 1