On 20 December 2017, Van Lanschot Kempen will return to its shareholders the previously announced amount of €1 per Class A share in issue, totalling over €41 million.
Van Lanschot Kempen’s shareholders approved the return of capital at an Extraordinary General Meeting on 11 October. On 12 December, the legally prescribed two-month objection period expired. No objections were made and subsequently the payment date for the capital return has been fixed at 20 December.
The capital return will be charged to the share premium reserve available for distribution and will therefore be exempt from dividend tax. Total share capital in issue will remain unchanged.
This return of capital represents the next step in the implementation of Van Lanschot Kempen’s capital strategy. Its aim is to return at least €250 million to shareholders in the period up to and including 2020, subject to the approval of its regulator. The CET I ratio will remain well ahead of Van Lanschot Kempen’s capital objective of 15–17% even after the return of capital.
Important dates related to the capital return:
Ex-date: 18 December 2017
Record date: 19 December 2017
Payment date: 20 December 2017