|Bid||0.0000 x 0|
|Ask||0.0000 x 0|
|Day's Range||4.1550 - 4.2670|
|52 Week Range||3.9240 - 5.8100|
|Beta (3Y Monthly)||1.35|
|PE Ratio (TTM)||14.63|
|Earnings Date||Aug 15, 2019|
|Forward Dividend & Yield||0.30 (7.32%)|
|1y Target Est||5.61|
Today, Aegon Bank priced its inaugural EUR 500 million 5 year Senior Non-Preferred notes with a yield of 0.729%. The proceeds of this transaction are expected to enable Aegon Bank to meet the minimum requirement for own funds and eligible liabilities (MREL), which are anticipated to be applicable as of 2020. The issuance is in line with the growth ambition of Aegon Bank and will result in a more diversified funding mix.
Aegon today announces that Sarah Russell (1962, Australian), member of Aegon’s Management Board and Global CEO of Aegon Asset Management, will step down. “We are very grateful for the passion and commitment Sarah has brought to Aegon”, said Alex Wynaendts, CEO of Aegon. “Sarah has been creating and building a successful global asset management business over the past nine years, which is now ready for the next stage of development.
Aegon N.V.’s Annual General Meeting of Shareholders (AGM) on May 17, 2019, has approved all resolutions on the agenda, including adoption of the Annual Accounts of Aegon N.V. for the financial year 2018. Shareholders approved the proposal to reappoint Alex Wynaendts as Chief Executive Officer of Aegon for another term of four years. Shareholders also approved the proposal to reappoint Ben Noteboom as a member of the Supervisory Board for another term of four years.
Aegon announces an agreement to sell its 50% stake in the variable annuity joint ventures in Japan for total cash proceeds of approximately EUR 130 million (JPY 16 billion) to its partner Sony Life. “With the evolving market conditions, we mutually agreed that the future of the variable annuity business in Japan is best served as a wholly-owned part of our longstanding partner Sony Life”, said Alex Wynaendts, CEO of Aegon. The divestment will not have a material impact on Aegon’s capital position and is expected to lead to an IFRS gain of approximately EUR 50 million, to be reported in “Other income” at time of closing.
Aegon today announces that it is exercising its right to redeem the USD 500 million perpetual capital securities with a coupon of 6.5% issued in 2005. The redemption of these grandfathered Tier 1 securities will be effective June 15, 2019, when the principal amount of USD 500 million will be repaid together with any accrued and unpaid interest. The securities (ISIN code: NL0000062420, CUSIP code: N007924400) are currently listed on the New York Stock Exchange with symbol AED.
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Today, Aegon N.V. has published the agenda for its Annual General Meeting of Shareholders (AGM) on Friday, May 17, 2019. As previously announced, the Supervisory Board has proposed to reappoint Alex Wynaendts as Aegon’s Chief Executive Officer and Member of the Executive Board for another term of four years as of May 17, 2019. It has also been proposed that Ben Noteboom be reappointed as a member of the Supervisory Board for another term of four years as of May 17, 2019.
Today, Aegon successfully priced its inaugural EUR 500 million Restricted Tier 1 perpetual contingent convertible securities, with a fixed coupon of 5.625% until October 15, 2029. “The successful inaugural issuance of these Restricted Tier 1 securities demonstrates our financial strength and credit worthiness”, said Matt Rider, CFO of Aegon. The new Restricted Tier 1 securities are callable from April 15, 2029, up to and including October 15, 2029, and then on every 5 yearly reset date thereafter where the coupon can be reset to the 5 year mid-swap plus a margin of 5.21%.
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Today, Aegon N.V. published its 2018 Integrated Annual Report and has filed its 2018 Annual Report on Form 20-F with the United States Securities and Exchange Commission (SEC). This is the first year that Aegon has published a fully integrated annual report. The report highlights the trends and challenges Aegon’s businesses are facing, its strategy, how we create and share value – and how we safeguard this value through a responsible approach to business practices.
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Aegon has set new medium-term financial targets with a focus on growing capital generation and dividends. By safeguarding a strong capital position, Aegon will continue to help millions of people to achieve a lifetime of financial security.