A buyback – also known as share repurchase – is when a company buys its own shares, lowering the number of its shares traded in the market. View details of current and previous share buybacks.
Latest
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 will repurchase 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 will also repurchase 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.
The repurchase of shares commenced on July 8, 2021 and is expected to be completed on or before August 25, 2021. 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.
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
| Start | End | Number of Shares | Total amount (EUR) | Average price (EUR) |
| Thursday, July 8, 2021 | Friday, July 9, 2021 | 2,500,000 | 8,626,198.50 | 3.4505 |
| Monday, July 12, 2021 | Friday, July 16, 2021 | 6,374,318 | 22,538,227.65 | 3.5358 |
| Total | 8,874,318 | 31,164,426.15 | 3.5118 | |
| Percentage | 23.43% |
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Previous
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
| Start | End | Number of Shares | Total amount (EUR) | Average price (EUR) |
| Thursday, October 1, 2020 | Friday, October 2, 2020 | 2,467,063 | 5,746,554.57 | 2.3293 |
| Monday, October 5, 2020 | Friday, October 9, 2020 | 4,863,699 | 12,209,809.44 | 2.5104 |
| Monday, October 12, 2020 | Friday, October 16, 2020 | 7,024,270 | 17,316,700.53 | 2.4653 |
| Monday, October 19, 2020 | Friday, October 23, 2020 | 5,752,491 | 14,088.233.64 | 2.4491 |
| Monday, October 26, 2020 | Tuesday, October 27, 2020 | 3,921,122 | 9,638,704.51 | 2.4581 |
| Total | 24,028,645 | 59,000,002.59 | 2.4554 | |
| Percentage | 100.00% |
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
| Start | End | Number of Shares | Total amount (EUR) | Average price (EUR) |
| Tuesday, October 1, 2019 | Friday, October 4, 2019 | 7,320,107 | 27,162,965.28 | 3.7107 |
| Monday, October 7, 2019 | Friday, October 11, 2019 | 7,136,393 | 26,410,236.31 | 3.7008 |
| Monday October 14, 2019 | Friday October 18, 2019 | 7,552,391 | 29,195,608.81 | 3.8657 |
| Monday October 21, 2019 | Friday October 25, 2019 | 6,662,662 | 26,536,933.37 | 3.9829 |
| Monday October 28, 2019 | Friday November 1, 2019 | 7,979,303 | 33,553,737.45 | 3.9544 |
| Monday, November 4, 2019 | Friday November 8, 2019 | 6,498,811 | 27,140,516.64 | 4.1762 |
| Total | 43,149,667 | 167,999,997.86 | 3.8934 | |
| Percentage | 100.00% |
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
| Start | End | Number of Shares | Total amount (EUR) | Average price (EUR) |
| Monday, July 1, 2019 | Friday, July 5, 2019 | 5,972,075 | 26,939,080.77 | 4.5108 |
| Monday, July 8, 2019 | Friday, July 12, 2019 | 5,972,075 | 27,374,275.44 | 4.5837 |
| Monday, July 15, 2019 | Friday, July 19, 2019 | 5,858,382 | 26,778,890.07 | 4.5710 |
| Monday, July 22, 2019 | Friday, July 26, 2019 | 6,289,116 | 28,688,634.70 | 4.5616 |
| Monday, July 29, 2019 | Friday, August 2, 2019 | 8,782,157 | 38,912,202.23 | 4.4308 |
| Total | 32,873,805 | 148,693,083.19 | 4.5231 | |
| Percentage | 100.00% |
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
| Start | End | Number of Shares | Total amount (EUR) | Average price (EUR) |
| Mon, October 1, 2018 | Fri, October 5, 2018 | 4,260,000 | 24,067,573.82 | 5.6497 |
| Mon, October 8, 2018 | Fri, October 12, 2018 | 4,423,458 | 24,587,244.67 | 5.5584 |
| Mon, October 15, 2018 | Fri, October, 19, 2018 | 4,376,022 | 23,226,935.76 | 5.3078 |
| Mon, October 22, 2018 | Fri, October 26, 2018 | 5,291,829 | 27,868,273.13 | 5.2663 |
| Mon, October 29, 2018 | Fri, November 2, 2018 | 2,891,501 | 15,506,360.42 | 5.3627 |
| Mon, November 5, 2018 | Fri, November 9, 2018 | 2,891,140 | 15,871,448.53 | 5.4897 |
| Total | 24,133,950 | 131,127,836.33 | 5.4333 | |
| Percentage completed | 100.00% |
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
| Start | End | Number of Shares | Total Amount (EUR) | Average Price (EUR) |
|
Monday, |
Friday, 06 July 2018 |
3,844,780 | 19,777,188.60 | 5.1439 |
| Monday, 09 July 2018 |
Friday, 13 July 2018 |
3,819,325 | 19,717,190.85 | 5.1625 |
| Monday, 16 July 2018 |
Friday, 20 July 2018 |
3,729,445 | 19,667,926.81 | 5.2737 |
| Monday, 23 July 2018 |
Friday, 27 July 2018 |
3,296,549 | 17,832,059.28 | 5.4093 |
| Monday, 30 July 2018 |
Friday, 03 August 2018 | 3,815, 498 | 21,220,251.07 | 5.5616 |
| Monday, 06 August 2018 |
Friday,10 August 2018 | 3,448,543 | 18,953,457.49 | 5.4961 |
| Total | 21,954,140 | 117,168,074.10 | 5.3369 | |
| Percentage (%) completed | 100.00% |
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
| Period (2017) | Number of Shares | Total Amount (EUR) | Average Price (EUR) |
| October 2-7 | 4,770,000 | 23,069,123 | 4.8363 |
| October 9-13 | 4,074,165 | 19,607,192 | 4.8126 |
| October 16-20 | 4,199,111 | 20,891,941 | 4.9753 |
| October 23-27 | 4,600,000 | 23,399,508 | 5.0868 |
| October 30-Nov. 3 | 3,754,670 | 19,202,392 | 5.1143 |
| November 6-10 | 5,928,233 | 30,891,406 | 5.2109 |
| November 13-17 | 6,005,000 | 30,810,911 | 5.1309 |
| November 20-24 | 5,040,000 | 25,844,420 | 5.1279 |
| November 27-December 1 | 5,605,666 | 29,102,258 | 5.1916 |
| December 4-8 | 5,120,000 | 26,778,821 | 5.2302 |
| December 11-15 | 2,767,781 | 14,650,933 | 5.2934 |
| Total | 51,864,626 | 264,248,905 | 5.0950 |
| 100% completed |
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
| Period (2016) | Number of Shares | Total Amount (EUR) | Average Price (EUR) |
| October 3-8 | 5,660,259 | 20,346,790 | 3.5947 |
| October 10-14 | 5,522,071 | 20,473,026 | 3.7075 |
| October 17-21 | 5,047,742 | 19,207,677 | 3.8052 |
| October 24-28 | 4,478,432 | 17,727,718 | 3.9585 |
| October 31-November 4 | 6,361,585 | 24,542,336 | 3.8579 |
| November 7-11 | 3,695,135 | 15,860,856 | 4.2924 |
| Total |
30,765,224 | 118,158,402 | 3.8406 |
| 100% completed |
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)
| Period (2016) | Number of Shares | Total Amount (EUR) | *Average Price (EUR) |
| April 1 | 1,070,000 | 5,058,289 | 4.7274 |
| April 4-8 | 4,769,529 | 22,266,664 | 4.6685 |
| April 11-15 | 4,210,000 | 21,114,352 | 5.0153 |
| April 18-22 | 4,815,000 | 25,120,356 | 5.2171 |
| April 25-29 | 5,453,503 | 28,016,436 | 5.1373 |
| May 2-6 | 5,421,169 | 26,568,169 | 4.9008 |
| May 9-13 | 2,843,816 | 13,855,735 | 4.8722 |
| May 16-20 | 13,450,835 | 58,000,001 | 4.3120 |
| Total | 42,033,852 | 200,000,000 | 4.7581 |
|
100% complete |
Weekly Report (Tranche 1 - EUR 200m)
| Period (2016) | Number of Shares | Total Amount (EUR) | *Average Price (EUR) |
| January 13-15 | 4,864,285 | 26,091,485 | 5.3639 |
| January 18-22 | 2,628,587 | 13,355,334 | 5.0808 |
| January 25-29 | 1,430,237 | 7,327,969 | 5.1236 |
| February 1-5 | 5,299,167 | 25,796,122 | 4.8680 |
| February 8-12 | 5,323,724 | 23,867,808 | 4.4833 |
| February 15-19 | 2,533,802 | 10,979,013 | 4.3330 |
| February 22-26 | 3,985,107 | 17,846,104 | 4.4782 |
| February 29 - March 4 | 292,689 | 1,419,994 | 4.8515 |
| March 7-11 | 5,094,164 | 24,883,750 | 4.8848 |
| March 14-18 | 1,360,273 | 6,907,514 | 5.0780 |
| March 21-25 | 7,491,243 | 37,690,061 | 5.0312 |
| March 28-31 | 779,405 | 3,833,534 | 4.9185 |
| Total | 41,082,683 |
200,000,000 | 4.8682 |
| 100% complete |
* 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
| Period (2016) | Number of Shares | Total Amount (EUR) | Average Price (EUR) |
| July 4-8 | 5,215,000 | 16,905,911 | 3.2418 |
| July 11-16 | 3,796,603 | 13,076,382 | 3.4442 |
| July 18-22 | 4,282,863 | 14,966,674 | 3.4945 |
| July 25-29 | 5,003,985 | 17,932,845 | 3.5837 |
| August 1-5 | 5,951,439 | 20,776,242 | 3.4910 |
| August 8-12 | 5,008,772 | 18,904,853 | 3.7743 |
| Total | 29,258,662 | 102,562,908 | 3.5054 |
| 100% completed |
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
| Period (2015) | Number of Shares | Total Amount (EUR) | Average Price (EUR) |
| September 16 - 18 | 5,520,544 | 29,351,142 | 5.3167 |
| September 21 - 25 | 4,032,000 | 20,437,793 | 5.0689 |
| September 28 - October 2 | 3,780,645 | 19,122,936 | 5.0581 |
| October 5 - 9 | 3,403,484 | 18,723,902 | 5.5014 |
| October 12 - 13 | 3,400,000 | 18,638,738 | 5.4820 |
| Total | 20,136,673 | 106,274,510 | 5.2777 |
| 100% completed |
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
| Period (2015) | Number of Shares | Total Amount (EUR) | Average Price (EUR) |
| June 17 - 19 | 3,458,025 | 22,544,136 | 6.5194 |
| June 22 - 26 | 2,766,714 | 18,799,421 | 6.7949 |
| June 29 - July 3 | 4,187,663 | 27,838,019 | 6.6476 |
| July 6 - 10 | 4,408,273 | 28,751,833 | 6.5222 |
| July 13 -14 | 1,459,258 | 10,041,453 | 6.8812 |
| Total | 16,279,933 | 107,974,862 | 6.6324 |
| 100% of program completed |
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
| Period (2014) | Number of Shares | Total Amount (EUR) | Average Price (EUR) |
| September 17 - 19 | 1,565,000 | 10,280,770 | 6.5692 |
| September 22 - 26 | 4,966,149 | 32,961,213 | 6.6372 |
| September 29 - October 3 | 5,266,703 | 34,252,244 | 6.5035 |
| October 6 - 10 | 3,547,376 | 22,525,018 | 6.3498 |
| October 13 - 15 | 974,711 | 5,928,093 | 6.0819 |
| Total | 16,319,939 | 105,947,337 | 6.4919 |
| 100% of program completed |
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Share buyback FAQ
Why does Aegon do share buybacks?
A share buyback – also known as share repurchase – is when a company buys its own shares, lowering the number of its shares traded in the market.
Twice a year – when interim and final dividend are paid out to shareholders - Aegon repurchases shares as a form of 'good housekeeping'. Shareholders can opt to receive dividend – a profit-share payout per share – in the form of cash or shares (stock dividend). When Aegon issues more shares, every existing shareholder owns a smaller, or 'diluted', percentage of the company, making each share less valuable.
To counteract this 'dilution', Aegon repurchases the equivalent amount of shares on the open market. The repurchased shares are held as treasury shares – that means they are held by Aegon and are not counted in voting rights. They'll be used to cover future dividends to Aegon shareholders.
How do share buybacks add shareholder value?
Share buybacks add shareholder value as they reduce the number of shares outstanding, which increases the earnings per share (EPS). EPS is one metric used when valuing companies. A higher EPS usually means a higher market value for the remaining shares.
How do we pay for the shares?
We finance the repurchased shares with Cash Capital at the Holding. This is the money we hold at the Group level to ensure we are able to fulfil our cash obligations, to maintain sufficient flexibility to provide capital and liquidity support to Aegon's operating units, and to provide stability in external dividends.
Cash Capital at the Holding is financed by remittances we receive from our operations. We report our Cash Capital at the Holding position in our quarterly results.
Doesn't insider knowledge prevent us from doing buybacks?
We use an intermediary to make the purchase orders as this ensures there can be no suggestion that Aegon or any of our employees benefit from insider information.