AAP Courier Mail August 22, 2012
SUNCORP Group will pay a bonus dividend to its shareholders after posting a 60 per cent rise in full year profit.
The insurance and banking firm made a net profit of $724 million in the year to June 30, up from $453 million in the previous year.
The company said Suncorp's transformation in recent years, focusing more on insurance, contributed to the profit result.
It declared a final, fully-franked dividend of 20 cents per share, plus a special, fully-franked dividend of 15 cents per share.
That takes Suncorp's payout to shareholders to 55 cents per share, up from 35 cents in the previous year.
Suncorp did not provide financial guidance for the 2012/13 financial year.
Its general insurance business increased its before-tax profit to $493 million in the year to June, and increased its gross written premium by 9.3 per cent to $7.96 billion.
Claims from natural disasters were $278 million above the company's allowance, and the company has increased its allowance for the 2012/13 financial year by 12 per cent.
Profit from Suncorp's banking operations were $26 million in the year to June, down from $84 million in the previous corresponding period.