Aegon: stock up after 2020 results
(CercleFinance.com) - The share of Dutch insurance group Aegon is up nearly 4% in Amsterdam on Thursday, despite the group announcing underlying net profit that is down 13% at 1.
44 billion euros for 2020, with underlying taxable profit that is down 12% at 1.73 billion euros, due to a lower contribution from the Americas.
In the second half of the year, the Dutch insurer incurred a net loss of 147 million euros, mainly due to an increase in the value of liabilities in the Netherlands relating to a tightening of credit spreads.
The group will propose a final dividend of 0.06 euro per share, bringing the total payout for 2020 to 0.12 euro, i.e. a total of 247 million euros, which is easily covered by the free cash flow of 530 million euros that it generated over the past year.
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