In our latest Dividend Detective by Adrian Ezquerro, we cover Suncorp Convertible Preference Shares 3 (CPS3). The Suncorp Group (ASX: SUN) is a top 20...

In our latest Dividend Detective by Adrian Ezquerro, we cover Suncorp Convertible Preference Shares 3 (CPS3). The Suncorp Group (ASX: SUN) is a top 20 ASX-listed financial services group with operations encompassing insurance and banking. SUN has just successfully completed the bookbuild for its latest preference share offering that may attract the interest of cash heavy super funds across the country. SUN raised the quantum of the issue, to be called Suncorp Convertible Preference Shares 3 (CPS3), to $360m after receiving a sound level of investor support through the bookbuild process. CPS3 is expected to list on the ASX shortly under the code SUNPE and a face value of $100 per share. SUNPE are fully paid, unsecured, non-cumulative preference shares that rank ahead of all ordinary shares, equally to CPS2 but behind all creditors of SUN. Read more: (VIEW LINK)