Suncorp Metway

Suncorp Metway (SBK)

Stock Code

SBK

Stock Exchange

ax
Suncorp Metway (SBK) offer a range of financial products and services in banking, general insurance, life insurance, superannuation and investment products across Australia and New Zealand. The Suncorp group has more than 16,000 employees and relationships with over seven million customers and is a top 25 ASX listed business with over $95 billion in assets. It was listed on the Australian Stockmarket (ASX) on 7 July, 1988. Suncorp has five operating divisions managing their various brands supported by corporate and shared services divisions.

Suncorp Shareholders Appeal for More Dividends


Financial Services Group, Suncorp (ASX:SUN) held their Annual General Meeting (AGM) on Thursday, with shareholders appealing for more dividends during question time. The questioning came about due to a concern in the risk of flood cover claims and pay package complaints from the union. Profit has been up for Suncorp Metway from $348 million in 2008-09 to $780 million this last financial year. Suncorp's dividend payout target has been reduced to 50-60 percent of cash profits.

Suncorp-Metway Dividends

9 August, 2010 - 22:48

Study the historical dividends for SUNCORP-METWAY LIMITED.. Dividends are a portion of company profits paid out to shareholders. You are eligible to receive SUN dividends if you own the company's stock on the ex-dividend date. Investor's must have purchased the stock before the ex dividend date to be entitled to the dividend. The previous owner of the shares will receive the SUN dividend if you buy the stocks on or after the ex dividend date. The Pay Date or the Date Payable is the day when the dividend is paid to shareholders.

Suncorp Cuts Dividend, Profit Rises


Suncorp Metway’s (SUN) has cut their interim dividend to 15 cents (down 5 cents on same dividend last year) although the company's first half profit has dramatically risen by 41 per cent to $364 million. The company has reduced their dividend to preserve cash and the profit figure was driven by a recovering insurance market and a reduction in insurance claims.

Suncorp-Metway (SUN) News Update


Suncorp-Metway (SUN) has a retained Buy/Medium Risk rating and A$15.00 share price target from Australian Stockmarket analyst Macquarie Research Equities.

Suncorp-Metway (SUN) Ltd: Caution may place DRP underwrite on the agenda

Suncorp Metway


Suncorp Metway Limited has an upgraded broker call from Hold to Buy, Medium Risk with a decreased share price target of $23.24 from $24 from sharemarket analyst Citigroup Investment Research. In time, the analyst expects Suncorp to upgrade its pre-tax integration synergy target from A$225m and a capital return may assist the end of the year. Strong general insurance reserving allows scope to support profits. The analyst alters their EPS for the company: FY07E: -11%; FY08E: +1% FY09E: +10%. These changes allow for the Promina acquisition including pre-tax synergies of A$275m, A$50m more than that currently promised by Suncorp, and the recently advised 12% 3Q07 drop in Qld CTP premium. The EPS growth profile is relatively lack lustre but at this price, the analyst still sees value.Valuation not too demanding: While the analyst could hardly describe Suncorp as cheap, it is currently trading on around 12.3x FY09E earnings and close to the analyst's new spot valuation of A$21.30ps. In a market that otherwise looks fairly fully valued, this does not appear particularly demanding. The fully franked dividend yield from Suncorp-Metway, potentially supported by capital returns, is also attractive and recent banking volume/risk product sales growth also appears encouraging. Integration risk significant: the analyst still believes that the Promina integration is likely to be tricky – it involves merging a centralised and decentralised culture – and there is risk of revenue fallout. But if there are hiccups, the impact is unlikely to be for a while and in the meantime the positive news should dominate.

Suncorp Metway (SUN) Shares Tip


Suncorp Metway (SUN) has a Neutral 2 Shares recommendation and a share price target of $22 from stock analyst UBS. The analyst have noted that the ACCC today released a Statement of Issues in relation to the proposed SUN/PMN merger. They view the release as a modest statement with no issues falling into the highest category of concern. The key concerns identified were 1) removal of a vigorous competitor 2) entry barriers in QLD CTP and 3) barriers to expansion in motor. UBS estimates that SUN is trading on a 12.8x FY08E PE.

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