Published: 05:55 PM CET
On 19 December 2018, Van Lanschot Kempen will return to its shareholders the previously announced amount of €1.50 per Class A share in issue, totalling over €60 million.
Van Lanschot Kempen’s shareholders approved the return of capital at an Extraordinary General Meeting on 5 October. On 10 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 19 December.
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. This return of capital will take the total capital returned to €210 million.
The CET1 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: 17 December 2018
Record date: 18 December 2018
Payment date: 19 December 2018