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Notice
Participants are advised that on 12 February 2025, Suncorp Group Limited (ASX Code: SUN) announced the details of the capital initiative to return excess capital from the sale of Suncorp Bank, comprising of a return of capital, fully franked ordinary and special dividend. The capital return will be accompanied by a share consolidation.
Following the announcement of the return of capital, ordinary dividend, special dividend and share consolidation:
- post-consolidation shares will trade on a deferred settlement basis (ASX Code: SUNDD), from 17 February 2025 to 25 February 2025 (inclusive), and shares will resume trading on a T+2 basis (ASX Code: SUN) from 26 February 2025. The consolidation ratio is 0.8511;
- a return of capital to each registered shareholder as at 18 February 2025 of A$3.00 per share;
- an ordinary dividend to each registered shareholder as at 18 February 2025 of A$0.41 per share;
- a special dividend to each registered shareholder as at 18 February 2025 of A$0.22 per share
Key dates for Capital Initiative and Interim ordinary dividend
Last day for trading in “cum return of capital” and “cum dividend” and in pre-consolidation securities |
Friday, 14 February 2025 |
Ex date – Trading in the re-organised securities on an ex return of capital and ex-dividend basis commences. Trading in post-consolidation securities commences upon market open, on a deferred settlement basis under temporary ASX code SUNDD |
Monday, 17 February 2025 |
Record Date for Capital Return, Share Consolidation, interim ordinary dividend and special dividend |
Tuesday, 18 February 2025 |
Last day for SUN to update its register reflecting the change in the number of securities. Deferred settlement trading ends. |
Tuesday, 25 February 2025 |
Payment date for the Return of Capital to ordinary shareholders. |
Wednesday, 5 March 2025 |
Payment date for the Interim Ordinary and Special dividends |
Friday, 14 March 2025 |
For more information about corporate action and the timetable, please refer to the market announcements of SUN.
ReferencePoint Corporate Action
ReferencePoint Corporate Action subscribers are advised that only the Reconstruction corporate action message has been disseminated for this event.
The corporate action message, with details below, was disseminated in the 12 February 2025 ReferencePoint Corporate Action file E34:
Corporate Action I.D |
000435341 |
|---|---|
Corporate Action Type Code |
RC |
Parent ISIN |
AU000000SUN6 |
Corporate Action Tran Type Code |
A |
Effective Date |
20250217 |
Record Date Parent |
20250218 |
Despatch Date |
20250225 |
Subject Parent Issuer Code |
SUN |
Parent Adjustment Type Code |
C (Consolidation) |
Parent Adjustment Date |
20250219 |
Object New Issuer Code |
SUN |
Object New Security Code |
DD |
What do I need to do by when?
Participants are advised that ASX is not able to disseminate corporate action messages via ReferencePoint in relation to the Capital Return, Ordinary Dividend and Special Dividend, therefore trading will not be tagged XC (ex-return of capital) and XD (ex-dividend) respectively.
Participants are also reminded that CHESS override basis of movement with respect to the SUN Capital Return and Dividend corporate actions will not be possible and as a result all pre-reconstruction transfers that occur up until the Record Date will effectively be transferred on a Cum-Capital Return and Cum-Dividend basis.
Need more information?
Issued by
Equity Post Trade Operations
Contact information
Equity Post Trade Operations
1800 814 051
chesshelp@asx.com.au