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 from the share premium reserve at the election of the shareholder and intends to neutralise the dilutive effect of the stock dividend through repurchase of ordinary shares. NN Group 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 2019

On 13 February 2020 NN Group announced its intention to propose a final dividend of EUR 1.40 per ordinary share, or approximately EUR 448 million based on the number of outstanding shares (net of treasury shares) on that date. Subsequently, on 6 April 2020, NN Group announced that it will act in accordance with the recommendations of EIOPA and the Dutch Central Bank (DNB) published on 2 April 2020 in light of the COVID-19 pandemic, and has postponed the payment of its 2019 final dividend. The proposal to pay a 2019 final dividend will not be included on the agenda of the annual general meeting scheduled for 28 May 2020. It is the intention that this distribution to shareholders is made in the second half of 2020, if and at such time that, in the opinion of the Executive and Supervisory Boards of NN, this is appropriate in light of COVID-19 developments.

Dividend history

Financial year Dividend Amount (EUR) Record date Payment date
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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