CANBERA (dpa-AFX) - ANZ Group Holdings Limited (ANZ.AX) announced a series of capital management actions as part of its broader strategic update under the ANZ 2030 initiative. To strengthen its capital position and maintain a resilient balance sheet, the bank will cease the remaining about A$800 million of its share buy-back program. This move will enable the return of approximately A$1 billion in surplus capital from its Non-Operating Holding Company to the Bank.
Additionally, ANZ plans to apply a 15% discount on the next two Dividend Reinvestment Plans (DRPs), which are expected not to be neutralized. The Board anticipates that the Final 2025 Dividend will remain unchanged from the first half, with the franking rate also expected to be maintained. The final dividend decision will be announced alongside the fiscal year 2025 audited results on 10 November 2025. The application of a discount to the Interim 2026 DRP will depend on the capital position at that time and the Board's determination to pay a dividend.
As part of its ANZ 2030 strategy, the bank has identified five immediate priorities to guide its transformation over the next five years. These include embedding the bank's new leadership team, accelerating the integration of Suncorp Bank to deliver value, and expanding the ANZ Plus digital front-end to all retail and small business customers. ANZ also aims to simplify operations by reducing duplication and discontinuing initiatives that do not align with its strategic direction. Enhancing non-financial risk management to improve customer outcomes rounds out the list of key priorities.
To drive shareholder value, improve customer experience, and reduce operational complexity, ANZ will expedite the integration of Suncorp Bank. The bank has committed to completing a safe and secure migration of Suncorp Bank customers to ANZ by June 2027, bringing forward the timeline to realize synergies and strategic benefits sooner.
In addition to these initiatives, ANZ is reviewing several large and notable items for inclusion in its fiscal year 2025 results that do not impact capital. These primarily involve potential adjustments to the carrying value of its Asian investments. Final determinations will be disclosed as part of the normal year-end reporting process.
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