’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 2019
Record date: 20 December 2019
Payment date: 23 December 2019
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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.
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.