Suncorp and NAB Notes Converge in Early September: Four Hybrids Going Ex in September

Sonal Goyal

13 July 2026 10:50 AM AEST

Suncorp and NAB Notes Converge in Early September: Four Hybrids Going Ex in September

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Key takeaways

This article groups four ASX-listed income securities around a shared theme: early-September 2026 ex-distribution dates.
Suncorp Group Ltd (ASX: SUNPI) is scheduled to trade ex-distribution on 2 September 2026, paying $1.30 per security (100% franked), for an indicated yield of 1.25%.
Suncorp Group Ltd (ASX: SUNPJ) is scheduled to trade ex-distribution on 2 September 2026, paying $1.28 per security (100% franked), for an indicated yield of 1.23%.
National Australia Bank Ltd (ASX: NABPJ) is scheduled to trade ex-distribution on 3 September 2026, paying $1.28 per security (100% franked), for an indicated yield of 1.22%.
National Australia Bank Ltd (ASX: NABPK) is scheduled to trade ex-distribution on 3 September 2026, paying $1.25 per security (100% franked), for an indicated yield of 1.17%.

Four hybrid notes - two from Suncorp Group Ltd and two from National Australia Bank Ltd - go ex-distribution within a single day of each other, on 2 and 3 September 2026 respectively, with all four paying out on 17 September 2026. That timing overlap makes this an example of how several large-issuer hybrid income events can concentrate around the same settlement week.

The four securities: early-September 2026 ex-distribution dates

Suncorp Group Ltd (ASX: SUNPI)

Dividend/distribution details

Relevant entitlement or ex-date	2 September 2026
Payment amount	$1.30 per security
Franking level	100%
Payment classification	Interim
Scheduled payment date	17 September 2026
Indicated yield	1.25%
Reference security price	$103.67

SUNPI is a Suncorp Group hybrid note. It shows a fully franked $1.30 per security interim distribution, with a 2 September 2026 ex-date and 17 September 2026 payment date, for an indicated yield of 1.25% against a $103.67 reference price.

Suncorp Group Ltd (ASX: SUNPJ)

Dividend/distribution details

Relevant entitlement or ex-date	2 September 2026
Payment amount	$1.28 per security
Franking level	100%
Payment classification	Interim
Scheduled payment date	17 September 2026
Indicated yield	1.23%
Reference security price	$104.64

SUNPJ is a second Suncorp Group note line, priced slightly higher at $104.64. It carries a fully franked $1.28 per security interim distribution, sharing the same 2 September 2026 ex-date and 17 September 2026 payment date as SUNPI, for an indicated yield of 1.23%.

National Australia Bank Ltd (ASX: NABPJ)

Dividend/distribution details

Relevant entitlement or ex-date	3 September 2026
Payment amount	$1.28 per security
Franking level	100%
Payment classification	Interim
Scheduled payment date	17 September 2026
Indicated yield	1.22%
Reference security price	$105.06

NABPJ is one of four National Australia Bank hybrid note lines clustered around the start of September in this calendar. It shows a fully franked $1.28 per security interim distribution, with a 3 September 2026 ex-date and 17 September 2026 payment date, for an indicated yield of 1.22% against a $105.06 reference price.

National Australia Bank Ltd (ASX: NABPK)

Dividend/distribution details

Relevant entitlement or ex-date	3 September 2026
Payment amount	$1.25 per security
Franking level	100%
Payment classification	Interim
Scheduled payment date	17 September 2026
Indicated yield	1.17%
Reference security price	$106.52

NABPK carries a fully franked $1.25 per security interim distribution, sharing NAB's common 3 September 2026 ex-date and 17 September 2026 payment date. At a $106.52 reference price - the highest of the four NAB notes - it implies the lowest indicated yield of the group at 1.17%.

What links these four

Suncorp Group and NAB are both major diversified financial institutions with multiple ASX-listed note lines, and all four notes here are fully franked and classified as interim distributions. With ex-dates and payment dates aligning so closely, investors holding several of these lines at once would see multiple entitlements determined and settled in the same short window, concentrating both cash flow timing and issuer-type exposure around a single date.

Risks and considerations

Investors weighing any of these four securities should keep several general risks in mind, drawn from the nature of the supplied calendar and the structure of ASX income securities more broadly.

Amounts, franking levels, indicated yields and dates in the supplied calendar are forward-looking and remain subject to confirmation or change ahead of the actual ex-date.
Hybrid and capital note distributions are governed by each note's specific terms and are not guaranteed in the way a fixed-interest payment might be assumed to be.
Ordinary dividends and LIC distributions can vary with company earnings or portfolio performance, and are not fixed obligations.
Franking credit value depends on each investor's individual tax circumstances and is not the same as receiving additional cash.
Reference prices move over time, so an indicated yield calculated against a past reference price may not reflect the yield available at today's market price.

What investors may watch next

As each ex-date approaches, investors may wish to confirm the declared amount, franking level and payment date directly against the relevant issuer's official ASX announcement, since figures shown in a forward calendar - particularly for funds and recently issued notes - can be provisional. Where a security shows a placeholder or unconfirmed figure, checking the issuer's latest distribution notice is the most direct way to get a confirmed number ahead of the ex-date.

Conclusion

SUNPI, SUNPJ, NABPJ, NABPK span early-September 2026 ex-distribution dates, illustrating how differently structured ASX income securities can be grouped by timing, issuer or security type even when their individual terms differ. As with any income security, investors should weigh the headline yield alongside the underlying issuer's financial position, the security's specific terms, and their own diversification and tax circumstances before acting, and should treat the figures in this article as indicative pending confirmation from official sources.

FAQs

Q: What do SUNPI, SUNPJ, NABPJ, NABPK have in common?

A: They are grouped in this article around a shared theme of early-September 2026 ex-distribution dates, based on the supplied ASX dividend calendar for July to September 2026.

Q: Are the payment amounts and dates in this article confirmed?

A: No. All figures are drawn from a supplied forward-looking dividend calendar and should be treated as indicative. Investors should verify details against official ASX announcements before making decisions.

Q: Is franking the same for all four securities in this article?

A: Yes, all four are shown at 100% franking in the supplied calendar.

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