Suncorp and QBE announced dividends amid life insurance hearings

SUN QBE

Suncorp Group Limited (ASX: SUN)

Last week, Suncorp’s life insurance arm was under the spotlight in Hayne Royal Commission’s hearing. The commission heard that Suncorp Life had the highest level of surveillance for both physical and mental health claims along with more than 4% of claims rejection for total life insurance, thus making it to be the highest rate of rejected claims among all other insurers.

Meanwhile, the Suncorp Group lately announced the dividend for the period of quarter ending December 16, 2018. The announcement includes the three distinct amounts of dividend declared by the insurance group for its three respective class of securities, i.e. SUNPG, SUNPF and SUNPE.

 In respect of SUNPG, the Board has declared $0.9727 of dividend per security at a distribution rate of 3.90% p.a. This reflects a fully franked dividend for the period of 91 days, payable on December 17, 2018 with the record date of December 3, 2018. Ex-dividend date is November 30, 2018. While for SUNPF and SUNPE, the company has announced $1.0512 and $0.929 fully franked dividend per security, respectively. The distribution rate for SUNPF was 4.22% and for SUNPE it was 3.73% p.a. however, the payment and record dates remain the same as SUNPG.

In the FY18 result announcement, the company has posted $1,059 million of NPAT, down 1.5% from $1,075 million in FY17. In the release of full year results for the period ended 30 June 2018, the company has anticipated the top line growth of 3-5% in the fiscal year 2019.

The annual general meeting of the Suncorp Group is due to be held in Brisbane on 20 September 2018. 

With this update, Suncorp’s stock has surged by 0.767% to $14.450 on 17 September 2018 and further moved up to $14.495 on September 18 post mid-day trading. There has been the performance change of +13.74% over the past one year, while the stock is currently trading at PE of 17.450 x with the market capitalization of $18.62 billion.

QBE Insurance Group Limited (ASX: QBE)

QBE Insurance Group recently announced the dividend of $0.22 per security for the six months ended 30 June 2018. The dividend is franked to 30% and is scheduled for payment on October 5, 2018. The company has also declared the Dividend reinvestment plan at a DRP price of $10.94 per security. The last date to participate in the plan was September 13, 2018.

Also, there has been change in substantial holding of the Director. Last week, the company informed Director William Marston Becker acquired 3,093 shares on-market at $10.94 per share. This makes his total holding to 1,36,985 shares.

QBE is an Australia-based international property and casualty insurance company. Formed in 1970, the group is engaged in the risks reinsurance and underwriting of general insurance activities across North America, the United States of America, Europe and Australia and New Zealand.

The QBE Insurance’s stock surged 1.753% to $11.030 on 17 September 2018 and was edging up further on September 18. The stock has seen a performance change of +3.24% over the past one year however, in the last three months there has been an improvement of 16.56% in the performance.

Dividend Stocks To Buy

The Income available from dividends remains attractive for many investors.

We take a look at the best yields on the market and assess what they say about a company’s prospect.

One Thing is certain, though, Australia interest rates are still low, making income difficult to come by and keeping the focus for many investors on high yielding stocks. Kalkine’s team of analysts bought you handpicked report for “Top 25 Dividend Stocks For 2018.”

ASX-relevant Special Reports are published year-round to provide a detailed analysis into an investing opportunity or a potential risk to your portfolio.

Click here to get your free report.


Disclaimer

The advice given by Kalkine Pty Ltd and provided on this website is general information only and it does not take into account your investment objectives, financial situation or needs. You should therefore consider whether the advice is appropriate to your investment objectives, financial situation and needs before acting upon it. You should seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice. Not all investments are appropriate for all people. Kalkinemedia.com and associated websites are published by Kalkine Pty Ltd ABN 34 154 808 312 (Australian Financial Services License Number 425376). website), employees and/or associates of Kalkine Pty Ltd do not hold positions in any of the stocks covered on the website. These stocks can change any time and readers of the reports should not consider these stocks as advice or recommendations.

Join Our Discussion

Start discussion with value Investors for ASX Stock Market Investment and Opinion.


6 Cannabis Stocks under Investor’s Limelight…

Cannabis companies that sell both medicinal weed and recreational pot. Marijuana stocks to look at. Marijuana mergers and acquisitions. Dispensary data analytics. Upcoming marijuana IPO’s Those phrases have become increasingly common as marijuana legalization spreads.

Global spending on legal cannabis is expected to grow 230% to $32 billion in 2020 as compared to $9.5 in 2017, according to Arcview Market Research and BDS Analytics. As of June 29, 2018 the United States Marijuana Index, despite a lot of uncertainty around regulations, has over the past 1 year gained 71.49%, as compared to about 12% gain seen by the S&P 500.

Click here for your FREE Report