news and press Press releases a.s.r. to follow EIOPA and DNB recommendations to temporarily postpone dividend and share buyback program
Press Utrecht 05 April 2020 20:00 EU/Amsterdam

a.s.r. to follow EIOPA and DNB recommendations to temporarily postpone dividend and share buyback program

ASR Nederland N.V. (a.s.r.) has taken notice of the recommendations issued by The European Insurance and Occupational Pensions Authority (EIOPA) and the Dutch Central Bank (DNB) to the (European) insurance sector on 2 April 2020, to temporarily postpone any dividend payments and share buyback programs until the financial and economic impact over the COVID-19 outbreak becomes clear. a.s.r. will comply with the recommendation and postpone its final dividend for 2019. Consequently, a.s.r. will also postpone its current share buyback program with immediate effect until further notice.

CEO Jos Baeten: ‘Taking care of the long term interests of all of our stakeholders, including our shareholders, has always been at the heart of our decision making. Our strong balance sheet and operational excellence has enabled us to deliver consistently on our promises. While our solvency and liquidity position remained robust, we will comply with the recommendations by EIOPA and our local supervisor, DNB, to temporarily postpone dividend payments and the existing share buyback program.’

The dividend proposal amounted to € 1.90 per share of which € 0.70 already has been paid as interim dividend in 2019. It will be our intention to pay the remainder of the dividend and resume the share buyback program in the second half of 2020 if and when in line with our existing dividend policy and appropriate given the developments of COVID-19. The share buyback program was for an amount of € 75 million, of which till Friday April 3, for a total amount of € 50.7 million has already been purchased. a.s.r.’s annual general meeting is expected to take place as planned on 20 May 2020. The 2019 dividend proposal will not be for vote on the agenda, which will be published on 8 April 2020.

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