Aegon: stock plunges after FY results

(CercleFinance.com) - The Aegon share is in a spin today, down over 9% in Amsterdam, after the insurance company published net income, which although twice the level a year ago, as 1.
53 billion euros, results included underlying pre-tax profit that is down 5% at 1.97 billion euros.

"Our underlying earnings were impacted by low interest rates while we experienced net outflows in our US retirement and annuity businesses. As a result we achieved a return on equity of 9.5%, below our target of 10%," said CEO Alex Wynaendts.

"However, we increased our capital generation which, combined with a number of management actions, enabled us to maintain a strong capital position. This allows us to announce a final dividend of 16 eurocents, increasing our full-year dividend by 7%,” he added. He therefore announced a final annual dividend of 0.16 euro, up 7%.


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