Aegon determines stock fraction 2014 interim dividend and announces to repurchase shares to neutralize stock dividend
September 17, 2014, 10:00 CEST
Shareholders were given the opportunity to choose between receiving the 2014 interim dividend of EUR 0.11 per common share in cash or in stock. 45% of shareholders elected to receive the stock dividend.
Those who elected a stock dividend will receive one Aegon common share for every 58 common shares held.
The stock fraction is based on Aegon's average share price as quoted on the Euronext Amsterdam Stock Exchange, using the high and low of each of the five trading days from September 8 up to and including September 12, 2014.
The average share price calculated on this basis during this period amounted to EUR 6.37. The stock dividend and the cash dividend are approximately equal in value.
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 available here (aegon.com/sharebuyback).