Aegon Ltd. Stock Price, News & Analysis

Aegon has announced updated dates for its interim dividend 2021 concerning New York Registry Shares (ISIN: US0079241032). The ex-dividend date is now August 26, 2021, and the record date has shifted to August 27, 2021. Shareholders can elect their dividend from August 27 to September 10, 2021, with payment scheduled for September 17, 2021. These changes mean that the New York Registry Shares differ from Euronext Amsterdam shares regarding these dates. No issuance or cancellation of New York Registry Shares will be possible from August 23 to August 27, 2021.

The European Commission has approved Vienna Insurance Group AG's acquisition of Aegon’s businesses in Central and Eastern Europe. This transaction, valued at EUR 830 million, involves Aegon’s insurance, pension, and asset management sectors in Hungary, Poland, Romania, and Turkey. Currently, VIG is seeking necessary approvals from relevant national authorities.

Aegon, a leading financial services organization with over 175 years of history, aims to help individuals achieve financial security.

Aegon reported a net result of EUR 849 million in Q2 2021, a significant recovery from a loss in Q2 2020. The operating result increased by 62% year-over-year to EUR 562 million due to improved claims experience and increased fees from higher equity markets. Interim dividends rose by EUR 0.02 to EUR 0.08 per common share. Cash capital at holding reached EUR 1.4 billion, with Group Solvency II ratio up 14% points to 208%. Aegon also implemented a buy-out program in the US to reduce financial market exposure, with a plan to redeem USD 250 million in perpetual capital securities.

Aegon has announced its decision to redeem USD 250 million of floating rate perpetual capital securities with a minimum coupon of 4%, set to be effective on September 15, 2021. This move aligns with Aegon’s strategy to reduce its financial leverage, which is expected to decrease by approximately EUR 700 million to EUR 5.9 billion since Q3 2020. The company aims to achieve a gross financial leverage target of EUR 5.0 to 5.5 billion by 2023. The securities, listed under symbol AEB, will be delisted following the redemption.

Aegon announced a share buyback program totaling EUR 133 million to offset the dilutive effects of its 2020 final stock dividend and share-based compensation plans. 58% of shareholders opted for stock dividends, prompting a EUR 72 million repurchase for treasury shares. Additionally, EUR 61 million will be used to address compensation plan dilutions from 2017-2021. The buyback starts on July 8, 2021, and is set to complete by August 25, 2021, executed through a third party at market rates.

Aegon has appointed Allegra van Hövell-Patrizi as the new CEO of Aegon the Netherlands, effective immediately, succeeding Maarten Edixhoven. Allegra, who joined Aegon in 2015, previously served as Chief Risk Officer and brings extensive experience from her career at McKinsey & Company and other firms. CEO Lard Friese expressed confidence in Allegra's leadership skills to drive the company's transformation. Meanwhile, CFO Matt Rider will oversee Risk Management until a new Chief Risk Officer is appointed.

Aegon N.V. held its Annual General Meeting of Shareholders (AGM) where all agenda resolutions were approved. This includes the adoption of the Annual Accounts for 2020 and a final dividend of EUR 0.06 per common share, totaling EUR 0.12 for the year. Furthermore, Mr. Matt Rider's reappointment as Chief Financial Officer was confirmed, along with the reappointments of Mr. William Connelly, Ms. Dona Young, and Mr. Mark Ellman to the Supervisory Board. Mr. Jack McGarry was also appointed as a new member of the Supervisory Board.

Aegon N.V. reported strong first-quarter results for 2021, with a net result of EUR 386 million and a 20% increase in operating results to EUR 431 million. Key drivers included effective expense savings totaling EUR 136 million and improved equity markets, though these were partially offset by adverse claims linked to COVID-19. Cash capital at Holding stands at EUR 1.2 billion, maintaining solid capital ratios across all main units. Free cash flow rose to EUR 75 million from EUR 61 million a year earlier. Aegon is on track for EUR 400 million in expense savings by 2023 and aims to enhance its risk profile through strategic initiatives.

Aegon announced that Maarten Edixhoven will resign as CEO of Aegon the Netherlands and a member of the Management Board, effective May 11, 2021. After seven years with the company, Edixhoven emphasized his pride in transforming Aegon into a customer-centric organization. CEO Lard Friese praised Edixhoven's leadership and commitment to sustainability. The company is currently searching for a successor. Aegon, with over 175 years of history, operates globally, offering services in life insurance, pensions, and asset management.