CANBERA (dpa-AFX) - Australia's Suncorp Group Ltd. (SUN.AX, SNMCY.PK) reported Monday that its fiscal 2021 Group net profit after tax increased 13.1 percent to A$1.03 billion from last year's A$913 million.
Cash earnings were A$1.064 million, up 42.1 percent from A$749 million a year ago.
Profit after tax from ongoing functions was A$1.17 billion, up 33 percent from A$877 million a year ago.
The Board has declared a fully franked final ordinary dividend of 40 cents per share. This brings total fully franked ordinary dividends for FY21 to 66 cents per share.
In addition, the Board has declared a fully franked 8 cent special dividend and has announced an on-market share buyback of up to $250 million.
Looking ahead, the company said, 'While the operating environment has improved since the outbreak of COVID-19 in 2020, the outlook remains uncertain, with lockdowns and restrictions currently in place in a number of states. An effective vaccination program with maximum coverage is essential to reducing the frequency and severity of lockdowns and allowing the Australian and New Zealand economies to fully open up.'
In Australia, Suncorp shares were trading at A$12.89, up 8.68 percent.
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