SUNCORP GROUP LIMITED Notification of dividend / distribution
Announcement Summary
Entity name
SUNCORP GROUP LIMITED
Security on which the Distribution will be paid
SUNPE - CNV PREF 3-BBSW+3.4% PERP NON-CUM RED T-6-22
Announcement Type
New announcement
Date of this announcement
Friday March 17, 2017
Distribution Amount
AUD 0.93650000
Ex Date
Thursday June 1, 2017
Record Date
Friday June 2, 2017
Payment Date
Monday June 19, 2017
Additional Information
The Distribution Rate on SUNPE 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 March 2017: 1.7950%
+ Margin: 3.4000% pa
= 5.1950% pa
x (1 - Tax Rate): 0.70
= Distribution Rate: 3.6365% pa
The cash amount of the Distribution was calculated as follows:
Distribution Rate: 3.6365% pa x Face Value: AUD 100
x days in Distribution Period: 94
/ 365
= cash amount of Distribution: AUD 0.9365, fully franked.
Refer to below for full details of the announcement
Announcement Details
Part 1 - Entity and announcement details
Name of +Entity
SUNCORP GROUP LIMITED
Registered Number Type
ABN
66145290124
Registration Number
ASX issuer code
SUN
The announcement is
New announcement
Date of this announcement
Friday March 17, 2017
ASX +Security Code
SUNPE
ASX +Security Description
CNV PREF 3-BBSW+3.4% PERP NON-CUM RED T-6-22
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)
Sunday June 18, 2017
2A.4 +Record Date
Friday June 2, 2017
2A.5 Ex Date
Thursday June 1, 2017
2A.6 Payment Date
Monday June 19, 2017
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
AUD 0.93650000
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
AUD 0.93650000
3A.2 Is the ordinary dividend/distribution franked?
Yes
3A.3 Percentage of ordinary dividend/distribution that is franked 100.0000 %
3A.4 Ordinary dividend/distribution franked amount per +security
AUD 0.93650000
3A.6 Ordinary dividend/distribution unfranked amount per +security excluding conduit foreign income amount
AUD 0.00000000
3A.7 Ordinary dividend/distribution conduit foreign income amount per security
AUD 0.00000000
Estimated or Actual?
Actual
3A.1a Ordinary dividend/distribution estimated amount per +security
AUD
3A.2a Is the ordinary dividend/distribution fully franked?
Yes
3A.3a Applicable corporate tax rate for franking credit (%)
30.0000 %
3A.5 Percentage amount of dividend which is unfranked
0.0000 %
Part 3D - Preference +security distribution rate details
3D.1 Start date of payment period
Friday March 17, 2017
3D.2 End date of payment period
Sunday June 18, 2017
3D.3 Date dividend/distribution rate is set (optional)
Friday March 17, 2017
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
94
3D.6 Dividend/distribution base rate (pa)
1.7950 %
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
3.4000 %
3D.9 Comments on how dividend/distribution margin is set
As per the Suncorp Convertible Preference Share 3 Prospectus dated 8 April 2014.
3D.10 Any other rate / multiplier used in calculating dividend/distribution rate
-1.5585 %
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)
3D.12 Total dividend/distribution rate for the period (pa)
3.6365 %
3D.13 Comment on how total distribution rate is set
Total distribution rate = (dividend/distribution base rate + Dividend/Distribution Margin) x (1 - tax rate of 30%)
Part 5 - Further information
5.1 Please provide any further information applicable to this dividend/distribution
http://suncorpgroup.com.au/investors/securities/cps3-sunpe
Suncorp Group Ltd. published this content on 17 March 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 17 March 2017 05:03:20 UTC.
Original documenthttp://www.suncorpgroup.com.au/announcements-pdf/895807
Public permalinkhttp://www.publicnow.com/view/61FBC248125D95D479B2E588FDE44D7E70339C3E
