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Aegon: to repurchase shares to neutralise stock dividend

(CercleFinance.com) - Aegon said on Friday it will repurchase common shares for an amount of 106 million euros to neutralise the dilutive effect of the 2021 final dividend, as more than half of its shareholders chose to receive the pay-out in shares.


The repurchase, which comes in addition to the existing 300-million-euro share buyback, will commence on 7 July and is expected to be completed on or before 30 September, the Dutch insurer said.

The financial group pointed out that the shares will be held as treasury shares and will be used to pay future stock dividends in shares.

The move comes after Aegon's shareholders have been given the opportunity to choose between receiving the 2021 final dividend of 0.09 euro per common share in cash or in shares. 58% of the shareholders elected to receive the dividend in shares.

The stock was up 2.7% per cent on the news, largely outperforming a 0.3 per cent fall in Amsterdam's blue chip AEX.

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