Special dividend from Suncorp, some time
Suncorp's board yesterday dangled the prospect of a special dividend in front of shareholders, though when the insurance and banking group might be able to pay a special dividend, or how much it might be, were questions left hanging.In a two-page letter to shareholders and published through the ASX, the chair of Suncorp's board, John Story, wrote that "When the world economies emerge from the current crisis, we will explore the possibility of enhanced dividend payments in recognition of an accumulating franking credit amount."Suncorp earlier this year cut its dividend payout ratio, a step adopted by several other banks. Suncorp has also had to sell new shares equal to dividends it pays out in order to maintain capital ratios.