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.

Final dividend 2020

At the annual general meeting on 20 May 2021, the proposal to pay out a final dividend of EUR 1.47 per ordinary share was adopted. The final dividend was paid either fully in cash, after deduction of withholding tax if applicable, or fully in ordinary shares, at the election of the shareholders. Dividends paid in the form of ordinary shares have been 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 stock dividend. NN Group ordinary shares were quoted ex-dividend on 24 May 2021. The record date for the dividend was 25 May 2021. The election period ran from 26 May up to and including 9 June 2021. 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 3 June through 9 June 2021. The dividend was paid on 16 June 2021.

On 2 September 2020, NN Group paid an interim dividend of EUR 2.26 per ordinary share, comprising (i) EUR 1.40 per ordinary share, equal to the amount of the 2019 final dividend that was suspended in April 2020 plus (ii) EUR 0.86 per ordinary share, equal to the regular 2020 interim dividend calculated in accordance with the NN Group dividend policy. The 2020 final dividend of EUR 1.47 per ordinary share plus the regular 2020 interim dividend of EUR 0.86 per ordinary share gives a pro forma total dividend for 2020 of EUR 2.33 per ordinary share.

The NN Group 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 18 February 2021 and 9 June 2021.

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
2021 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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