Aegon has completed two share buyback programs, one aimed at neutralizing the dilutive effect of the 2022 interim dividend paid in shares and the second to return EUR 300 million of surplus cash capital that was generated by the sale of Aegon’s Hungarian business to Vienna Insurance Group.
The shares repurchased as part of the buyback program to neutralize the dilutive effect of the 2022 interim dividend, as announced on September 27, 2022, will be held as treasury shares and will be used to pay future dividends in shares. Between October 3, 2022 and December 15, 2022, common shares for an amount of EUR 134 million were repurchased. A total of 29,833,390 common shares were repurchased at an average price of EUR 4.4897 per share.
The third and final tranche of EUR 100 million of the EUR 300 million share buyback program, as announced on March 23, 2022, also commenced on October 3, 2022 and was completed on December 15, 2022. Between April 1, 2022 and December 15, 2022, common shares for an amount of EUR 302 million were repurchased. A total of 65,921,332 common shares were repurchased at an average price of EUR 4.5766 per share. Aegon will propose at its Annual General Meeting of Shareholders in May 2023 to cancel these repurchased shares.