Among the highlights of those results, Suncorp reported a 69% increase in FY23 net profit after tax (NPAT), which came in at $1.15 billion.
Cash earnings increased to $1.25 billion, up from $673 million in FY22.
So, what about the Suncorp dividend?
Suncorp ups full-year dividend payout
That sees the full-year dividend payout come to 60 cents per share, up 50% from 40 cents per share paid in FY22. At the current share price that works out to a trailing yield of 8.1%.
Despite the year on year increase in the full-year Suncorp dividend, it equates to a payout ratio of 60% of the company's FY23 cash earnings.
That falls within Suncorp's target payout ratio range of 60% to 80%. But it's right at the bottom end.
This has to do with some potential headwinds on the horizon with increasing FY24 reinsurance costs and higher costs than initially expected as Suncorp works through the Tribunal process relating to the sale of its banking assets to ANZ Group Holdings Ltd (ASX: ANZ).
Management said they are pursuing a "prudent and disciplined approach to managing capital in the context of the current environment".
Looking at what investors can expect from Suncorp dividends in the years ahead, the company said it will maintain its commitment to the 60% to 80% dividend payout ratio, with management "acknowledging the lower payout in FY23 reflected some significant shifts in capital" in the short term.
If you want to receive the final Suncorp dividend of 27 cents per share, you'll need to own the stock at market close this Friday.
Shares trade ex-dividend on Monday, 14 August.