Aegon will repurchase approximately 16 million common shares to neutralize the dilutive effect of the 2014 interim dividend paid in shares.
Neutralization of stock dividend
Shareholders were given the opportunity to choose between receiving the interim dividend of EUR 0.11 per common share in cash or in stock. 45% of shareholders elected to receive the stock dividend.
Aegon will repurchase 16,319,939 common shares to neutralize the dilutive effect of the 2014 interim dividend paid in shares. These shares will be held as treasury shares and will be used to cover future stock dividends.
Aegon has committed itself to the repurchase of the common shares by engaging a third party to execute the transactions on its behalf. The transactions will commence on September 17, 2014, and are expected to be completed on or before October 17, 2014. The common shares will be repurchased at a maximum of the daily volume-weighted average price.
Weekly updates regarding the transactions, will be provided below.
||Number of Shares
||Total Amount (EUR)
||Average Price (EUR)
||40% of program completed