The Hague, September 27, 2022 – Aegon will repurchase widespread shares for an quantity of EUR 133 million to neutralize the dilutive impact of the 2022 interim dividend paid in shares. These shares will likely be held as treasury shares and will likely be used to pay future inventory dividends in shares.
Shareholders got the chance to select between receiving the 2022 interim dividend of EUR 0.11 per widespread share in money or in shares. The inventory dividend and the money dividend are roughly equal in worth.
60% of shareholders elected to obtain the ultimate dividend in shares. Those who elected inventory dividend acquired one Aegon widespread share for each 42 widespread shares held. The inventory fraction relies on Aegon’s common share value as quoted on Euronext Amsterdam, utilizing the excessive and low of every of the 5 buying and selling days from September 8 up to and together with September 14, 2022. The common share value calculated on this foundation amounted to EUR 4.61. The dividend was paid on September 21, 2022.
The repurchase of shares will start on October 3, 2022, and is predicted to be accomplished on or earlier than December 15, 2022. The transaction will quantity to EUR 133 million. Aegon will have interaction a 3rd celebration to execute the transaction on its behalf. The widespread shares will likely be repurchased at a most of the common of the each day volume-weighted common costs in the course of the repurchase interval.
This program is as well as to the present EUR 300 million share buyback that was introduced on March 23, 2022, of which the third tranche of EUR 100 million will start on October 3, 2022, and is predicted to be accomplished on or earlier than December 15, 2022, barring unexpected circumstances. Weekly updates concerning all of the share buyback transactions can be found on aegon.com.
Aegon is an built-in, diversified, worldwide monetary providers group. The firm affords funding, safety, and retirement options, with a strategic give attention to three core markets (the United States, the United Kingdom, and the Netherlands), three development markets (Spain & Portugal, Brazil, and China), and one world asset supervisor. Aegon’s objective of Helping folks reside their greatest lives runs via all its actions. As a number one world investor and employer, the corporate seeks to have a optimistic impression by addressing crucial environmental and societal points, with a give attention to local weather change and inclusion & range. Aegon is headquartered in The Hague, the Netherlands, and listed on Euronext Amsterdam and the New York Stock Exchange. More info could be discovered at aegon.com.
The statements contained on this doc that aren’t historic details are forward-looking statements as outlined within the US Private Securities Litigation Reform Act of 1995. The following are phrases that determine such forward-looking statements: intention, consider, estimate, goal, intend, could, anticipate, anticipate, predict, undertaking, relying on, plan, proceed, need, forecast, purpose, ought to, would, may, is assured, will, and related expressions as they relate to Aegon. These statements could include details about monetary prospects, financial situations and developments and contain dangers and uncertainties. In addition, any statements that refer to sustainability, environmental and social targets, commitments, targets, efforts and expectations and different occasions or circumstances which are partially depending on future occasions are forward-looking statements. These statements aren’t ensures of future efficiency and contain dangers, uncertainties and assumptions which are troublesome to predict. Aegon undertakes no obligation, and expressly disclaims any responsibility, to publicly replace or revise any forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which merely replicate firm expectations on the time of writing. Actual outcomes could differ materially and adversely from expectations conveyed in forward-looking statements due to adjustments brought on by varied dangers and uncertainties. Such dangers and uncertainties embrace however aren’t restricted to the next:
- Unexpected delays, difficulties, and bills in executing in opposition to our environmental, local weather, range and inclusion or different “ESG” targets, targets and commitments, and adjustments in legal guidelines or laws affecting us, similar to adjustments in information privateness, environmental, security and well being legal guidelines;
- Changes usually financial and/or governmental situations, notably within the United States, the Netherlands and the United Kingdom;
- Civil unrest, (geo-) political tensions, navy motion or different instability in a rustic or geographic area;
- Changes within the efficiency of economic markets, together with rising markets, similar to with regard to:
- The frequency and severity of defaults by issuers in Aegon’s fastened earnings funding portfolios;
- The results of company bankruptcies and/or accounting restatements on the monetary markets and the ensuing decline within the worth of fairness and debt securities Aegon holds;
- The results of declining creditworthiness of sure public sector securities and the ensuing decline within the worth of presidency publicity that Aegon holds;
- Changes within the efficiency of Aegon’s funding portfolio and decline in scores of Aegon’s counterparties;
- Lowering of a number of of Aegon’s debt scores issued by acknowledged score organizations and the hostile impression such motion could have on Aegon’s capability to increase capital and on its liquidity and monetary situation;
- Lowering of a number of of insurer monetary power scores of Aegon’s insurance subsidiaries and the hostile impression such motion could have on the written premium, coverage retention, profitability and liquidity of its insurance subsidiaries;
- The impact of the European Union’s Solvency II necessities and different laws in different jurisdictions affecting the capital Aegon is required to preserve;
- Changes affecting rate of interest ranges and persevering with low or quickly altering rate of interest ranges;
- Changes affecting foreign money trade charges, particularly the EUR/USD and EUR/GBP trade charges;
- Changes within the availability of, and prices related to, liquidity sources similar to financial institution and capital markets funding, in addition to situations within the credit score markets usually similar to adjustments in borrower and counterparty creditworthiness;
- Increasing ranges of competitors within the United States, the Netherlands, the United Kingdom and rising markets;
- Catastrophic occasions, both artifical or by nature, together with by the use of instance acts of God, acts of terrorism, acts of struggle and pandemics, may end in materials losses and considerably interrupt Aegon’s business;
- The frequency and severity of insured loss occasions;
- Changes affecting longevity, mortality, morbidity, persistence and different components that will impression the profitability of Aegon’s insurance merchandise;
- Aegon’s projected outcomes are extremely delicate to complicated mathematical fashions of economic markets, mortality, longevity, and different dynamic programs topic to shocks and unpredictable volatility. Should assumptions to these fashions later show incorrect, or ought to errors in these fashions escape the controls in place to detect them, future efficiency will fluctuate from projected outcomes;
- Reinsurers to whom Aegon has ceded vital underwriting dangers could fail to meet their obligations;
- Changes in buyer conduct and public opinion usually associated to, amongst different issues, the kind of merchandise Aegon sells, together with authorized, regulatory or industrial necessity to meet altering buyer expectations;
- Customer responsiveness to each new merchandise and distribution channels;
- As Aegon’s operations help complicated transactions and are extremely depending on the right functioning of knowledge know-how, operational dangers similar to system disruptions or failures, safety or information privateness breaches, cyberattacks, human error, failure to safeguard personally identifiable info, adjustments in operational practices or insufficient controls together with with respect to third events with which we do business could disrupt Aegon’s business, injury its repute and adversely have an effect on its outcomes of operations, monetary situation and money flows;
- The impression of acquisitions and divestitures, restructurings, product withdrawals and different uncommon objects, together with Aegon’s capability to combine acquisitions and to acquire the anticipated outcomes and synergies from acquisitions;
- Aegon’s failure to obtain anticipated ranges of earnings or operational efficiencies, in addition to different administration initiatives associated to value financial savings, Cash Capital at Holding, gross monetary leverage and free money move;
- Changes within the insurance policies of central banks and/or governments;
- Litigation or regulatory motion that might require Aegon to pay vital damages or change the best way Aegon does business;
- Competitive, authorized, regulatory, or tax adjustments that have an effect on profitability, the distribution value of or demand for Aegon’s merchandise;
- Consequences of an precise or potential break-up of the European financial union in complete or partly, or the exit of the United Kingdom from the European Union and potential penalties if different European Union international locations depart the European Union;
- Changes in legal guidelines and laws, notably these affecting Aegon’s operations’ capability to rent and retain key personnel, taxation of Aegon firms, the merchandise Aegon sells, and the attractiveness of sure merchandise to its shoppers;
- Regulatory adjustments relating to the pensions, funding, and insurance industries within the jurisdictions through which Aegon operates;
- Standard setting initiatives of supranational normal setting our bodies such because the Financial Stability Board and the International Association of Insurance Supervisors or adjustments to such requirements that will have an effect on regional (similar to EU), nationwide or US federal or state stage monetary regulation or the applying thereof to Aegon, together with the designation of Aegon by the Financial Stability Board as a Global Systemically Important Insurer (G-SII); and
- Changes in accounting laws and insurance policies or a change by Aegon in making use of such laws and insurance policies, voluntarily or in any other case, which can have an effect on Aegon’s reported outcomes, shareholders’ fairness or regulatory capital adequacy ranges.
This doc comprises info that qualifies, or could qualify, as inside info inside the which means of Article 7(1) of the EU Market Abuse Regulation (596/2014). Further particulars of potential dangers and uncertainties affecting Aegon are described in its filings with the Netherlands Authority for the Financial Markets and the US Securities and Exchange Commission, together with the Annual Report. These forward-looking statements communicate solely as of the date of this doc. Except as required by any relevant regulation or regulation, Aegon expressly disclaims any obligation or enterprise to launch publicly any updates or revisions to any forward-looking statements contained herein to replicate any change in Aegon’s expectations with regard thereto or any change in occasions, situations or circumstances on which any such assertion relies.
- 20220927 – PR – Aegon to repurchase shares to neutralize 2022 interim dividend