Share buyback program

Share buyback of EUR 300m (announced on 23/03/2022)

Updated: September 27, 2022

Aegon announced on March 23 that it would repurchase common shares for an amount of EUR 300 million. The share buyback program commenced on April 1, 2022 and is expected to be completed on or before December 15, 2022. The first tranche of EUR 100 million was completed on June 14, 2022. The second tranche of EUR 100 million commenced on July 7 and was completed on September 27, 2022. The third and final tranche started on October 3, 2022 and is expected to be completed on or before December 15, 2022, barring unforeseen circumstances. For each tranche Aegon engaged a third party to execute the buyback transactions on its behalf. The common shares will be repurchased at a maximum of the average of the daily volume-weighted average prices during the repurchase period, and will subsequently be proposed to be cancelled at Aegon's 2023 Annual General Meeting of Shareholders.

Neutralization of 2021 final dividend of EUR 106m (announced on 01/07/2022)

Aegon announced the intention in July 2022 to repurchase common shares for an amount of EUR 106 million to neutralize the dilutive effect of the 2021 final dividend paid in shares. These shares will be held as treasury shares and will be used to pay future stock dividends in shares.

Shareholders were given the opportunity to choose between receiving the 2021 final dividend of EUR 0.09 per common share in cash or in shares. The stock dividend and the cash dividend are approximately equal in value.

The repurchase of shares commenced on July 7, 2022, and was completed on September 27, 2022. Aegon engaged a third party to execute the transactions on its behalf. The common shares were repurchased at a maximum of the average of the daily volume-weighted average prices during the repurchase period. This program was in addition to the existing EUR 300 million share buyback that was announced on March 23, 2022, of which the second tranche completed on September 27, 2022.

Neutralization of 2022 interim dividend of EUR 133m (announced on 27/09/2022)

Aegon announced the intention in September 2022 to repurchase common shares for an amount of EUR 133 million to neutralize the dilutive effect of the 2022 interim dividend paid in shares. These shares will be held as treasury shares and will be used to pay future dividends in shares.

Shareholders were given the opportunity to choose between receiving the 2022 interim dividend of EUR 0.11 per common share in cash or in shares. The stock dividend and the cash dividend are approximately equal in value.

The repurchase of shares commenced on October 3, 2022, and is expected to be completed on or before December 15, 2022, barring unforeseen circumstances. Aegon has engaged a third party to execute the transactions on its behalf. The common shares will be repurchased at a maximum of the average of the daily volume-weighted average prices during the repurchase period. This program is in addition to the existing EUR 300 million share buyback that was announced on March 23, 2022, of which the third tranche  started on October 3, 2022.

A weekly summary of the transactions is provided in the table below. Further details are available in the Daily Overview by Exchange.

Weekly overview Aegon share buyback

Aegon to repurchase shares for share-based compensation plans

Aegon announced on January 7 that it would repurchase common shares for an amount of EUR 50 million to meet its obligations resulting from the 2021 and 2022 share-based compensation plans for senior management. The repurchased shares will be held as treasury shares until they are allocated to the plan participants.

The repurchase of shares commenced on January 7, 2022 and was completed on January 24, 2022. Aegon engaged a third party to execute the transactions on its behalf. The common shares were repurchased at a maximum of the average of the daily volume-weighted average prices during the repurchase period.

A weekly summary of the transactions is provided in the table below. Further details are available in the Daily Overview by Exchange. 

Weekly overview Aegon share buyback for share-based compensation plans

Neutralization of stock dividend

Shareholders were given the opportunity to choose between receiving the 2021 interim dividend of EUR 0.08 per common share in cash or in shares. 58% of shareholders elected to receive the interim dividend in shares.

The repurchase commenced on October 1, 2021, and completed on October 26, 2021.

Aegon engaged a third party to execute the transactions on its behalf. The common shares were repurchased at a maximum of the average of the daily volume-weighted average prices during the repurchase period.

A weekly summary of the transactions was provided in the table below. Further details are available in the Daily Overview by Exchange. 

Weekly overview Aegon share buyback for the neutralization of the 2021 Interim Dividend

Neutralization of stock dividend and share-based variable compensation plans

Shareholders were given the opportunity to choose between receiving the 2020 final dividend of EUR 0.06 per common share in cash or in stock. 58% of shareholders elected to receive the final dividend in stock.

As a result, Aegon repurchased a total of 35,933,035 common shares between July 8, 2021 and August 20, 2021.

The share buyback program involved Aegon repurchasing shares for an amount of EUR 72 million, which will be held as treasury shares and will be used to pay future stock dividends.

Aegon also repurchased common shares for an amount of EUR 61 million in the context of share-based variable compensation plans for the years 2017-2021. These repurchased shares will be held as treasury shares until allocation to the plan participants.

Aegon engaged a third party to execute the transactions on its behalf. The common shares were repurchased at a maximum of the average of the daily volume-weighted average prices during the repurchase period.

A weekly summary of the transactions is provided in the table below. Further details are available in the Daily Overview by Exchange. 

Weekly overview Aegon share buyback for the neutralization of the 2020 Final Dividend and LTIC

Neutralization of stock dividend

Shareholders were given the opportunity to choose between receiving the 2020 Interim dividend of EUR 0.06 per common share in cash or in stock. The stock dividend and the cash dividend are approximately equal in value.

48% of shareholders elected to receive the interim dividend in stock. Those who elected stock dividend will receive one Aegon common share for every 39 common shares held. The stock fraction is 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, 2020. The average share price calculated on this basis amounted to EUR 2.3264. The dividend was payable as of September 18, 2020.

The repurchase of shares commenced on October 1, 2020 and was completed on October 27, 2020. Aegon engaged a third party to execute the transactions on its behalf. The common shares were repurchased at a maximum of the average of the daily volume-weighted average prices during the repurchase period.

A weekly summary of the transactions is provided below. Further details are available online in the Daily Overview by Exchange. 

Weekly overview Aegon share buyback for the neutralization of the 2020 Interim Dividend

Neutralization of stock dividend

Shareholders were given the opportunity to choose between receiving the 2019 interim dividend of EUR 0.15 per common share in cash or in stock.

55% of shareholders elected to receive the interim 2019 dividend in stock. As a result, Aegon repurchased common shares for an amount of EUR 168 million to neutralize the dilutive effect of the 2019 interim stock dividend. These shares were held as treasury shares to be used to pay future stock dividends.

The repurchase of shares commenced on October 1, 2019, and was completed on November 8, 2019. Aegon engaged a third party to execute the transactions on its behalf. The common shares were repurchased at a maximum of the average of the daily volume-weighted average prices during the repurchase period. A weekly summary of the transactions is provided below. Further details will be available in the Daily Overview by Exchange.

Weekly overview Aegon Share Buyback for the Neutralization of the 2019 Interim Dividend

Neutralization of stock dividend

Shareholders were given the opportunity to choose between receiving the 2018 final dividend of EUR 0.15 per common share in cash or in stock.

45% of shareholders elected to receive the final 2018 dividend in stock. As a result, Aegon repurchased 32,873,805 common shares to neutralize the dilutive effect of the 2018 final dividend paid in shares. These shares will be held as treasury shares, and will be used to pay future stock dividends.

The repurchase of shares commenced on July 1, 2019, and completed on August 2, 2019. Aegon engaged a third party to execute the transactions on its behalf. The common shares were repurchased at a maximum of the average of the daily volume-weighted average prices during the repurchase period.

A weekly summary of the transactions is provided below. Further details are available in the Daily Overview by Exchange.

Weekly overview Aegon Share Buyback for the Neutralization of the 2018 Final Dividend

Neutralization of stock dividend

Shareholders were given the opportunity to choose between receiving the 2018 interim dividend of EUR 0.14 per common share in cash or in stock. The stock dividend and the cash dividend are approximately equal in value.

44% of shareholders elected to receive the interim dividend in stock. As a result, Aegon will repurchase 24,133,950 common shares to neutralize the dilutive effect of the 2018 interim stock dividend. These shares will be held as treasury shares and will be used to pay future stock dividends.

Aegon has committed itself to repurchasing the common shares by engaging a third party to execute the transactions on its behalf. The repurchase of shares will commence on October 1, 2018, and is expected to be completed on or before November 9, 2018. The common shares will be repurchased at a maximum of the average of the daily volume-weighted average prices during the repurchase period.

A weekly summary of the transactions is provided below. Further details are available in the Daily Overview by Exchange.

Weekly overview Aegon Share Buy Back for Neutralization of 2018 Interim Dividend

Neutralization of stock dividend

Shareholders were given the opportunity to choose between receiving the 2017 final dividend of EUR 0.14 per common share in cash or in stock.

42% of shareholders elected to receive the final 2017 dividend in stock. As a result, Aegon will repurchase 21,954,140 common shares to neutralize the dilutive effect of the 2017 final dividend paid in shares. These shares will be held as treasury shares, and will be used to pay future stock dividends.

Aegon has committed itself to repurchasing the common shares by engaging a third party to execute the transactions on its behalf. The transactions will commence on July 2, 2018, and are expected to be completed on or before August 10, 2018. The common shares will be repurchased at a maximum of the average of the daily volume-weighted average prices during the repurchase period. 

A weekly summary of the transactions is provided below. Further details are available in the Daily Overview by Exchange .

Weekly Report - Aegon share buyback

for neutralization of 2017 Final Dividend

Neutralization of stock dividend

Aegon has completed the repurchase of 51,864,626 common shares to neutralize the dilutive effect of the 2016 final and 2017 interim dividends. These shares will be held as treasury shares and will be used to pay future stock dividends.

Aegon repurchased common shares by engaging a financial intermediary to execute the transactions on its behalf.

These transactions commenced on October 2, 2017, and were completed on December 15, 2017. The common shares were repurchased at a maximum of the daily volume-weighted average price.

A weekly summary of the transactions is provided below. Further details are available in the Daily Overview by Exchange (pdf).

Weekly Report

Neutralization of stock dividend

Aegon has completed the repurchase of 30,765,224 common shares to neutralize the dilutive effect of the 2016 interim dividend.

These shares will be held as treasury shares and will be used to pay future stock dividends.

Aegon repurchased common shares by engaging a financial intermediary to execute the transactions on its behalf.

These transactions commenced on October 3, 2016, and were completed on November 11, 2016. The common shares were repurchased at a maximum of the daily volume-weighted average price.

A weekly summary of the transactions is provided below. 

Weekly Report

Aegon repurchased EUR 400 million worth of common shares in 2016, of which a first tranche of EUR 200 million was completed on March 31, 2016. The second tranche of EUR 200 million was completed on May 19, 2016. In total, Aegon repurchased 42 million shares at an average repurchase price of EUR 4.76 per share.

This buyback was related to a transaction we carried out with Association Aegon (Vereniging Aegon), our largest shareholder. In 2013, they exchanged €2.1 billion preferred shares for a mix of cash and shares worth €1.1 billion. This transaction helped simplify Aegon's capital structure and allowed the Association to substantially reduce its debt. The impact on other shareholders was limited to a minor dilution of their ownership from the issuance of shares. We therefore bought back shares to offset the dilutive effect of this transaction.

At the Annual General Meeting on May 20, 2016, shareholders approved the cancelation of all common shares repurchased as part of this program.

The shares have been repurchased at or below the daily volume-weighted average price. An overview of the transactions on a weekly basis can be found below.

Weekly Report (Tranche 2 - EUR 200m)

Weekly Report (Tranche 1 - EUR 200m)

^{* Includes fees if applicable}

Neutralization of stock dividend

Aegon has completed the repurchase of 29,258,662 common shares to neutralize the dilutive effect of the 2015 final stock dividend.

These shares will be held as treasury shares and will be used to pay future stock dividends.

Aegon repurchased common shares by engaging a financial intermediary to execute the transactions on its behalf.

These transactions commenced on July 4, 2016, and were completed on August 12, 2016. The common shares were repurchased at a maximum of the daily volume-weighted average price.

A weekly summary of the transactions is provided below. Further details are available in the Daily Overview by Exchange.

Weekly Report

Neutralization of stock dividend

Aegon has completed the repurchase of 20,136,673 common shares to neutralize the dilutive effect of the 2015 interim stock dividend. These shares will be held as treasury shares and will be used to pay future stock dividends.

Aegon repurchased common shares by engaging a third party to execute the transactions on its behalf.

These transactions commenced on September 16, 2015, and were completed on October 13, 2015. The common shares were repurchased at a maximum of the daily volume-weighted average price.

Weekly updates of the transactions are provided below.

Weekly Report

Neutralization of stock dividend

Aegon has completed the repurchase of 16,279,933 common shares to neutralize the dilutive effect of the 2014 final dividend paid in shares. These shares are held as treasury shares and will be used to pay future stock dividends.

Aegon repurchased common shares using a third party to execute the transactions on its behalf.

The transactions commenced on June 17, 2015, and were completed on July 14, 2015. The common shares were repurchased at a maximum of the daily volume-weighted average price.

Weekly updates of the transactions are provided below.

Weekly Report

Neutralization of stock dividend

Aegon has completed the share buyback program announced on September 17, 2014. This program neutralized the dilutive effect of the 2014 interim dividend paid in shares. These shares will be held as treasury shares and will be used to pay future stock dividends.

Aegon repurchased common shares by engaging a third party to execute the transactions on its behalf.

Between September 17, 2014 and October 15, 2014 a total of 16,319,939 common shares were repurchased, at an average price of EUR 6.49 per share.

Weekly updates of the transactions are provided below.

Weekly Report