Suncorp presentation - 24 February 2014
Patrick Snowball (Group CEO) and John Nesbitt (CEO Suncorp Bank) presented to our network on Monday morning (24 Feb).
The core message from Suncorp Group (SUN) is that the business is now completely de-risked and the management team are very focussed on the next stage of delivering above system growth and solid yield for investors. SUN is now a much simpler diversified financials business and the 'One Company, Many Brands' positioning is allowing SUN to leverage the nine million customer relationships of the group.
Key highlights of the 1H14 result included a 40% increase in the first half dividend; a strong capital surplus of A$1.2bn and SUN re-affirming its intention to return surplus capital (we expect a 20c special dividend can be paid in August); and a solid General Insurance result.
Watch a snippet of the presentation at our morning meeting below:
Patrick Snowball, Suncorp Group (SUN)
We consider Suncorp Group (SUN) a core portfolio holding, offering solid yield and growth as well as the potential for further special dividends over the next 12 months.
If you are interested in finding out more about Suncorp, please contact your adviser or nearest Morgans office
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