Dividend policy and dividend history

Dividend policy

NN Group intends to pay a progressive ordinary dividend per share. NN Group intends to declare an interim dividend, which will be calculated at approximately 40% of the prior year’s full-year dividend, with the disclosure of its first half-year results and to propose a final dividend at the annual general meeting of shareholders. NN Group intends to pay dividends either in cash, after deduction of withholding tax if applicable, or in ordinary shares, at the election of the shareholder. Dividends paid in the form of ordinary shares will be delivered from NN Group treasury shares or issued from the share premium reserve. NN Group intends to neutralise the dilutive effect of the stock dividend through repurchase of ordinary shares. NN Group also intends to execute a recurring annual share buyback of at least EUR 250 million. Additional excess capital is to be returned to shareholders unless it can be used for value creating opportunities.

When proposing a dividend or announcing a buyback, NN Group will take into account, among other things, its capital position, leverage and liquidity position, regulatory requirements and strategic considerations as well as the expected developments thereof. There is no requirement or assurance that NN Group will declare and pay any dividends or execute a buyback programme. On the basis of Solvency II regulatory capital requirements, dividends or buybacks can only be paid out if NN Group is compliant with the group Solvency Capital Requirement within the meaning of the Solvency II legislation.

Interim dividend 2022

NN Group paid a 2022 interim dividend of EUR 1.00 per ordinary share. The interim dividend was paid either fully in cash, after deduction of withholding tax if applicable, or fully in ordinary shares, at the election of the shareholder. Dividends paid in the form of ordinary shares were delivered from NN Group treasury shares. To neutralise the dilutive effect of the stock dividend, NN Group will repurchase ordinary shares for an amount equivalent to the value of the stock dividend.

NN Group ordinary shares were quoted ex-dividend on 15 August 2022. The record date for the dividend was 16 August 2022. The election period ran from 17 August up to and including 31 August 2022. The stock fraction for the stock dividend was based on the volume weighted average price of NN Group ordinary shares on Euronext Amsterdam for the five trading days from 25 August through 31 August 2022. The dividend was paid on 7 September 2022.

Treasury shares that have been delivered as stock dividend are entitled to the same rights as the ordinary shares that were already outstanding. For further information regarding the rights connected to and the characteristics of the ordinary shares, reference is made to the articles of association of NN Group and the relevant parts of the annual report which are both available on this website. Reference is also made to the press releases published on 11 August and 31 August 2022.

Pursuant to Article 1 paragraph 4 sub h and Article 1 paragraph 5 sub g of the Prospectus Regulation, dividend payments in shares may occur without a prospectus, provided that a document is made available giving the required information. The above mentioned information together with the press releases referred to above constitute that document. Please note that neither this information nor the press releases are a prospectus within the meaning of the Prospectus Regulation.

Dividend history

Financial year Dividend Amount (EUR) Record date Payment date
2022 Interim 1.00 16 Aug 2022 7 Sept 2022
2021 Final 1.56 24 May 2022 15 June 2022
2021 Interim 0.93 17 Aug 2021 8 Sept 2021
2020 Final 1.47 25 May 2021 16 June 2021
2020 Interim 2.26 11 Aug 2020 2 Sept 2020
2019 Interim 0.76 20 Aug 2019 11 Sept 2019
2018 Final 1.24 3 June 2019 25 June 2019
2018 Interim 0.66 21 Aug 2018 10 Sept 2018
2017 Final 1.04 5 June 2018 25 June 2018
2017 Interim 0.62 22 Aug 2017 11 Sept 2017
2016 Final 0.95 6 June 2017 26 June 2017
2016 Interim 0.60 23 Aug 2016 9 Sept 2016
2015 Final 1.05 8 June 2016 28 June 2016
2015 Interim 0.46 11 Aug 2015 7 Sept 2015
2014 Final 0.57 3 June 2015 30 June 2015

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