Aegon: plans share buyback to avoid dilution
(CercleFinance.com) - Aegon will repurchase almost 22 million shares to neutralise the dilutive effect of its stock dividend, after 42% of shareholders decided to receive their dividend in shares.
These shares will be held as treasury stock and will be used to pay future stock dividends, the Dutch insurer said.
Shareholders were given the opportunity to choose between receiving the 2017 final dividend of 0.14 euro per common share in cash or in shares.
Yesterday, during a meeting with analysts and investors, Aegon said it was willing to increase returns to shareholders, while transforming into a "more efficient and financially predictable company."
For this purpose, Aegon will implement several reporting changes to reflect its strategic transformation, with its Dutch business lines now changing to life, non-life, banking and services, it said.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
These shares will be held as treasury stock and will be used to pay future stock dividends, the Dutch insurer said.
Shareholders were given the opportunity to choose between receiving the 2017 final dividend of 0.14 euro per common share in cash or in shares.
Yesterday, during a meeting with analysts and investors, Aegon said it was willing to increase returns to shareholders, while transforming into a "more efficient and financially predictable company."
For this purpose, Aegon will implement several reporting changes to reflect its strategic transformation, with its Dutch business lines now changing to life, non-life, banking and services, it said.
Copyright (c) 2018 CercleFinance.com. All rights reserved.