Published: 08:30 AM CET
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.
Ex-date: 19 December 2019
Record date: 20 December 2019
Payment date: 23 December 2019