Aegon announces that it will repurchase approximately 19 million common shares to neutralize the dilutive effect of the 2013 interim dividend paid in shares.
Approximately 55% of shareholders have elected to receive the cash dividend. The remaining 45% have opted for stock dividend. As a result, 19,047,358 new common shares were issued on September 13, 2013.
Aegon has committed itself irrevocably to the repurchase of these common shares by engaging a third party to execute the transactions on its behalf, which are expected to be completed before October 16, 2013. Under the agreement, Aegon will repurchase shares at the daily volume-weighted average price. Aegon will provide a weekly update regarding the transactions on its website www.aegon.com/sharebuyback.
At the next Annual General Meeting on May 21, 2014, Aegon will seek approval from its shareholders to cancel all common shares repurchased as part of this program.