Suncorp Group Limited (AU:SUN) has released an update.
Suncorp Group Limited has announced a split of the CN2 payment into two distributions, the Second Pro Rata Distribution being the focus of this update. The distribution amount is calculated at 5.6027% per annum with a fully franked cash amount of AUD 0.52190000 per note, based on the formula involving the 90 day Bank Bill Rate and a fixed margin. This financial maneuver is designed to support the Reinvestment Offer initially disclosed on 16 April 2024.
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