Van Lanschot Kempen to return capital of €1.50 per share on 23 December 2019
13 Décembre 2019 - 8:30AM
Van Lanschot Kempen to return capital of €1.50 per share on 23
December 2019
’s-Hertogenbosch, the Netherlands, 13 December 2019
On 23 December 2019, Van Lanschot Kempen will return the
previously announced amount of €1.50 per Class A share in issue,
totalling over €60 million, to its shareholders.
Van Lanschot Kempen’s shareholders approved the return of
capital at an extraordinary general meeting on 9 October 2019. On
11 December 2019, the legally prescribed two-month objection period
expired. No objections were made, and subsequently the payment date
for the capital return has been fixed on 23 December.
Van Lanschot Kempen is able to make this capital return payment
to its shareholders as a result of its strong capital position.
This return of capital will take the total capital returned, in the
form of both dividend payments and capital returns, to €330 million
since 2016.
Van Lanschot Kempen will continue to optimise its capital base
going forward, while leaving room for possible acquisitions. If
possible, it will also consider paying out capital to its
shareholders, subject to approval by the regulator.
The CET 1 ratio will remain well ahead of Van Lanschot Kempen’s
capital objective of 15–17% even after the return of capital. The
capital return will be charged to the share premium reserve
available for distribution and will therefore be exempt from Dutch
dividend tax. Total share capital in issue will remain
unchanged.
Important dates related to the capital
return:
Ex-date: 19 December
2019Record date: 20 December 2019Payment date: 23
December 2019
Media Relations: +31 20 354 45 85;
mediarelations@vanlanschotkempen.com Investor Relations: +31 20 354
45 90; investorrelations@vanlanschotkempen.com
About Van Lanschot Kempen Van Lanschot Kempen,
a wealth manager operating under the Van Lanschot, Evi and Kempen
brand names, is active in Private Banking, Asset Management and
Merchant Banking, with the aim of preserving and creating wealth
for its clients. Van Lanschot Kempen, listed at Euronext Amsterdam,
is the Netherlands’ oldest independent financial services company
with a history dating back to 1737.
vanlanschotkempen.com
Disclaimer and cautionary note on forward-looking
statements This press release may contain forward-looking
statements on future events and developments. These forward-looking
statements are based on the current insights, information and
assumptions of Van Lanschot Kempen’s management about known and
unknown risks, developments and uncertainties. Forward-looking
statements do not relate strictly to historical or current facts
and are subject to such risks, developments and uncertainties which
by their very nature fall outside the control of Van Lanschot
Kempen and its management.
Actual results, performances and circumstances may differ
considerably from these forward-looking statements as a result of
risks, developments and uncertainties relating to, but not limited
to, (a) estimates of income growth, (b) costs, (c) the
macroeconomic and business climate, (d) political and market
trends, (e) interest rates and currency exchange rates, (f)
behaviour of clients, competitors, investors and counterparties,
(g) the implementation of Van Lanschot Kempen’s strategy, (h)
actions taken by supervisory and regulatory authorities and private
entities, (i) changes in law and taxation, (j) changes in ownership
that could affect the future availability of capital, and (k)
changes in credit ratings.
Van Lanschot Kempen cautions that forward-looking statements in
this press release are only valid on the specific dates on which
they are expressed, and accepts no responsibility or obligation to
revise or update any information, whether as a result of new
information or for any other reason.
The financial data in this press release have not been audited,
unless specifically stated otherwise.
This press release does not constitute an offer or solicitation
for the sale, purchase or acquisition in any other way or
subscription to any financial instrument and is not a
recommendation to perform or refrain from performing any
action.
This press release is a translation of the Dutch language
original and is provided as a courtesy only. In the event of any
disparities, the Dutch language version will prevail. No rights can
be derived from any translation thereof.
- Press release capital return
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