Shareholders were given the opportunity to choose between receiving the 2015 interim dividend of EUR 0.12 per common share in cash or in stock. 43% of shareholders elected to receive the stock dividend.
Those who elected for a stock dividend will receive one Aegon common share for every 45 common shares held.
The stock fraction is based on Aegon's average share price as quoted on Euronext Amsterdam, using the high and low of each of the five trading days from September 7 up to and including September 11, 2015. The average share price calculated on this basis amounted to EUR EUR 5.40. The stock dividend and the cash dividend are approximately equal in value.
Aegon will repurchase 20,136,673 common shares to neutralize the dilutive effect of the 2015 interim stock dividend. These shares will be held as treasury shares and will be used to pay future stock dividends.
Aegon is committed to the repurchase of the common shares by engaging a third party to execute the transactions on its behalf. These transactions will commence on September 16, 2015, and are expected to be completed on or before October 14, 2015. The common shares will be repurchased at a maximum of the daily volume-weighted average price.
Weekly updates regarding the transactions will be available here. (aegon.com/sharebuyback).