Dividend policy and dividend history
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 2021
At the annual general meeting on 19 May 2022, shareholders approved a final dividend of EUR 1.56 per ordinary share, or approximately EUR 470 million based on the
number of outstanding shares (net of treasury shares) on 19 May 2022. The final dividend will be 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 will be delivered from NN Group treasury shares or issued from the share premium reserve. 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 will be quoted ex-dividend on 23 May 2022. The record date for the dividend will be 24 May 2022. The election period will run from 25 May up to and including 8 June 2022. The stock fraction for the stock dividend will be based on the volume weighted average price of NN Group ordinary shares on Euronext Amsterdam for the five trading days from 2 June through 8 June 2022. The dividend will be payable on 15 June 2022.
New ordinary shares that may be issued as stock dividend and treasury shares that may be delivered as stock dividend will be entitled to the same rights as the ordinary shares already admitted to trading. 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 release published on 17 February 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 release referred to above constitute that document. Please note that neither this information nor the press release are a prospectus within the meaning of the Prospectus Regulation.
On 8 September 2021, NN Group paid an interim dividend of EUR 0.93 per ordinary share, which was calculated in accordance with the NN Group dividend policy. The
2021 final dividend of EUR 1.56 per ordinary share plus the 2021 interim dividend of EUR 0.93 per ordinary share gives a total dividend for 2021 of EUR 2.49 per ordinary share.
|Financial year||Dividend||Amount (EUR)||Record date||Payment date|
|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|