Aug 4 (Reuters) - Suncorp Group Ltd SUN.AX :
* Sees optimisation benefits of $170 million in the 2018 financial year
* Expects an ordinary dividend payout ratio of 60% to 80% of cash earnings"
* Simplification initiatives to deliver $265 million in cost savings in the 2016 financial year
* Says "group will invest $75 million for the optimisation program of work to deliver these efficiency benefits"
* Source text for Eikon ID:nASX4V6rQD