Suncorp: Interim result 2012

Despite increasing the dividend, Suncorp’s share price has fallen 2% after announcing its interim result. Compared to the same period last year, underlying net profit increased 12% to $397m. An interim 20-cent fully franked dividend was declared (ex date unknown), up from 15 cents. Despite holding $1.2bn of surplus capital, Suncorp is reluctant to initiate any shareholder friendly moves due to its volatile profits. Like rivals QBE Insurance and IAG, Suncorp’s general insurance business suffered from a record year of natural disasters. Net profit after tax fell 45% to $162m. A 121% increase in investment income to $373m failed...

Despite increasing the dividend, Suncorp’s share price has fallen 2% after announcing its interim result. Compared to the same period last year, underlying net profit increased 12% to $397m. An interim 20-cent fully franked dividend was declared (ex date unknown), up from 15 cents. Despite holding $1.2bn of surplus capital, Suncorp is reluctant to initiate any shareholder friendly moves due to its volatile profits.

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