Dividends

After investments in new business to generate organic growth, capital generation in Aegon's operating subsidiaries is available for distribution to the holding company, while maintaining a capital and liquidity position in the operating subsidiaries in line with Aegon's capital management and liquidity risk policies.

Aegon uses cash flows from the operating subsidiaries to pay for holding expenses, including funding costs. The remaining cash flow is available to execute Aegon's strategy and to fund dividends on its shares, subject to maintaining the holding company targeted capital.

Depending on circumstances, future prospects and other considerations, Aegon’s Executive Board may elect to deviate from this target. Aegon’s Executive Board will also take capital position, financial flexibility, leverage ratios and strategic considerations into account when declaring or proposing dividends on common shares.

Under normal circumstances, Aegon would expect to declare an interim dividend when announcing Aegon’s second quarter results and to propose a final dividend at the Annual General Meeting of Shareholders for approval.

Dividends would normally be paid in cash or stock at the election of the shareholder. The relative value of cash and stock dividends may vary. Stock dividends paid may, subject to capital management and other considerations, be repurchased in order to limit dilution.

When determining whether to declare or propose a dividend, Aegon’s Executive Board has to balance prudence versus offering an attractive return to shareholders, for example in adverse economic and/or financial market conditions. Also, Aegon's operating subsidiaries are subject to local insurance regulations which could restrict dividends to be paid to the holding company.

There is no requirement or assurance that Aegon will declare and pay any dividends.</p

Update: Final Dividend 2019

In the context of the COVID-19 pandemic, the European Insurance and Occupational Pensions Authority (EIOPA) and DNB, Aegon's principal regulator, published statements on April 2, 2020 urging insurers to temporarily postpone all dividend distributions. Aegon N.V. confirmed on April 3, in a press release issued to convene the 2020 AGM that it would comply with these requests. As a result, the company will forego its 2019 final dividend of EUR 0.16 per common share.

Taking into account the interim dividend paid in September 2019, this results in a total dividend for the financial year 2019 of EUR 0.15 per common share. Aegon will review opportunities for returning capital to its shareholders as soon as appropriate.

Strong capital position
Since the start of the COVID-19 crisis, Aegon and its subsidiaries have maintained strong capital positions. The most recent information was given on May 12, 2020, when Aegon provided an update of its business performance on the first quarter of 2020 and its capital position.

2019 Interim Dividend*

EUR 0.15 per common share
USD 0.166208

Aegon proposed a 2019 interim dividend per share of EUR 0.15 at the 1H 2019 results on August 15, 2019. This was paid in cash or stock at the election of the shareholder. The value of the stock dividend was approximately equal to the cash dividend.

Those who elected stock dividend received one Aegon common share for every 25 common shares held. The stock fraction was based on Aegon's average share price as quoted on Euronext Amsterdam, using the high and low of each of the five trading days from September 9 up to and including September 13, 2019. The average share price calculated on this basis amounted to EUR 3.7570. The dividend was payable as of September 20, 2019.

2019 Interim Dividend Schedule

2018 Final Dividend*

EUR 0.15 per common share
USD 0.167475

Aegon proposed a 2018 final dividend per share of EUR 0.15 at the 2H 2018 results on February 14, 2019. This was paid in cash or stock at the election of the shareholder. The value of the stock dividend was approximately equal to the cash dividend.

2018 Final Dividend Schedule

2018 Interim Dividend

EUR 0.14 per common share (proposed)

At the 1H 2018 results on August 16, 2018, Aegon announced an interim dividend for 2018 of EUR 0.14 (USD 0.162050) per common share.

The interim dividend was paid in cash or stock at the election of the shareholder. The value of the stock dividend was approximately equal to the cash dividend.

2018 Interim Dividend Schedule

Final Dividend

EUR 0.14 per common share (proposed)

At the Annual General Meeting of Shareholders on May 18, 2018, the Supervisory Board proposed a final dividend for 2017 of EUR 0.14 (USD: 0.164507) per common share.

The final dividend was paid in cash or stock at the election of the shareholder. The value of the stock dividend was approximately equal to the cash dividend.

2017 Final Dividend Schedule

Interim Dividend

EUR 0.13 per common share
USD 0.152653 

Shareholders were given the opportunity to choose between receiving the 2017 interim dividend either entirely in cash (minus 15% withholding tax) or entirely in new common shares to be paid out of the share premium reserve (free of withholding tax in the Netherlands).

2017 interim dividend stock fraction

43% of shareholders elected to receive the stock dividend. Those who elected a stock dividend received one Aegon common share for every 36 common shares held.

The stock fraction was based on Aegon's average share price as quoted on Euronext Amsterdam, using the high and low of each of the five trading days from September 4 up to and including September 8, 2017. The average share price calculated on this basis amounted to EUR 4.7033.

Share buyback program

Commencing October 2, 2017, Aegon repurchased 51,864,626 common shares to neutralize the dilutive effect of the 2016 final and 2017 interim dividends paid in shares. These shares were held as treasury shares, and were to be used to pay future stock dividends. Details of share buybacks are available on our share buyback page.

2017 Interim Dividend Schedule

Final Dividend

EUR 0.13 per common share
USD 0.146231

Shareholders were given the opportunity to choose between receiving the 2016 final dividend either entirely in cash (minus 15% withholding tax) or entirely in new common shares to be paid out of the share premium reserve (free of withholding tax in the Netherlands).

2016 final dividend stock fraction

46% of shareholders elected to receive the stock dividend. Those who elected for a stock dividend will receive one Aegon common share for every 35 common shares held.

The stock fraction was based on Aegon's average share price as quoted on Euronext Amsterdam, using the high and low of each of the five trading days from June 12 up to and including June 16, 2017. The average share price was calculated on this basis amounted to EUR 4.5254.

Share buyback program

Commencing October 2, 2017, Aegon repurchased 51,864,626 common shares to neutralize the dilutive effect of the 2016 final and 2017 interim dividends paid in shares. These shares were to be held as treasury shares, and were to be used to pay future stock dividends. Details of share buybacks are available on our share buyback page.

2016 Final Dividend Schedule

Interim Dividend

EUR 0.13 per common share
USD 0.147264

Shareholders were given the opportunity to choose between receiving the 2016 interim dividend either entirely in cash (minus 15% withholding tax) or entirely in new common shares to be paid out of the share premium reserve (free of withholding tax in the Netherlands).

2016 interim dividend stock fraction

42% of shareholders elected to receive the stock dividend. Those who elected for a stock dividend received one Aegon common share for every 28 common shares held.

The stock fraction was based on Aegon's average share price as quoted on Euronext Amsterdam, using the high and low of each of the five trading days from September 5 up to and including September 9, 2016. The average share price calculated on this basis amounted to EUR 3.6190. The stock dividend and the cash dividend were approximately equal in value.

Share buyback program

Aegon repurchased 30,765,224 common shares to neutralize the dilutive effect of the 2016 interim stock dividend. Details of share buybacks are available on our share buyback page.

Final Dividend

EUR: 0.13 per common share
USD 0.145795

Shareholders were given the opportunity to choose between receiving the 2015 final dividend in cash or in stock. The cash dividend amounts to EUR 0.13 per common share. 43% of shareholders elected to receive the stock dividend.

2015 final dividend stock fraction

Those who elected for a stock dividend received one Aegon common share for every 30 common shares held.

The stock fraction was based on Aegon's average share price as quoted on Euronext Amsterdam, using the high and low of each of the five trading days from June 13 up to and including June 17, 2016. The average share price calculated on this basis amounted to EUR 3.9057. The stock dividend and the cash dividend are approximately equal in value.

Share buyback

Aegon repurchased 29,258,662 common shares to neutralize the dilutive effect of the 2015 final stock dividend. Further details are available on our share buyback page.

2015 final dividend schedule

* All references to the payment of (interim) dividends are subject to any relevant board or shareholders resolution to distribute such (interim) dividend. Please refer to the disclaimer.

Interim Dividend

EUR: 0.12 per common share
USD: 0.134196 

Shareholders could elect to receive the interim 2015 dividend either entirely in cash (minus 15% withholding tax) or entirely in new common shares to be paid out of the share premium reserve (free of withholding tax in the Netherlands).

2015 interim dividend stock fraction

43% of shareholders elected to receive the stock dividend. Those who elected for a stock dividend received one Aegon common share for every 45 common shares held.

The stock fraction was based on Aegon's average share price as quoted on Euronext Amsterdam, using the high and low of each of the five trading days from September 7 up to and including September 11, 2015. The average share price calculated on this basis amounted to EUR 5.40. The stock dividend and the cash dividend were approximately equal in value.

Share buyback program

Aegon repurchased 20,136,673 common shares to neutralize the dilutive effect of the 2015 interim stock dividend. Further details are available on our Share Buyback page.

* All references to the payment of (interim) dividends are subject to any relevant board or shareholders resolution to distribute such (interim) dividend. Please refer to the disclaimer.

* All references to the payment of (interim) dividends are subject to any relevant board or shareholders resolution to distribute such (interim) dividend. Please refer to the disclaimer.

No dividends were declared in 2010.

No dividends were declared in 2009.