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Ageas: adjusts dividend distribution after regulators' call

( - Ageas is adjusting its dividend distribution for the year 2019 after taking into account recent guidance issued by regulators, the Belgian insurance company said on Wednesday.

In a statement this morning, Ageas confirmed its intention to pay a total gross cash dividend of 2.65 euros per share for 2019, with an initial dividend payment of 0.27 euro per share set to be proposed to its first shareholder meeting on 20 May.

The insurer will then organise a second shareholder meeting in October, intending to propose for approval the payment of an intermediary dividend of 2.38 euros per share.

While acknowledging the call for prudence from regulators such as EIOPA and the National Bank of Belgium, Ageas said it wants to "keep its promises" towards shareholders

The company also plans to continue its ongoing share buyback program of 200 million euros, of which approximately 137 million euros has already been realised.

Investors cheered the news, sending the shares up by almost 3% on Wednesday morning on Euronext Brussels.

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