NN N : Group aounces stock fraction for 2023 final dividend and repurchase of shares to neutralise stock dividend

As announced on 29 February 2024, shareholders of NN Group N.V. (NN Group) were given the option to receive the final dividend for 2023 of EUR 2.08 per ordinary share either in cash or in ordinary shares.

Shareholders who have elected to receive the final dividend in shares will receive one NN Group ordinary share for every 20.22 ordinary shares held. The stock fraction is based on the volume-weighted average price of EUR 42.0477 for NN Group shares on Euronext Amsterdam for the five trading days from 7 June 2024 up to and including 13 June 2024. Any remaining stock fractions will be paid in cash. The stock and cash dividend are approximately equal in value. For shareholders that have not made a choice during the election period, the dividend will be paid in cash.

Shareholders representing approximately 41.0% of the outstanding number of shares have elected to receive the final dividend in ordinary shares. Consequently, 5,524,775 ordinary shares will be delivered from NN Group treasury shares.

NN Group will neutralise the dilutive effect of the stock dividend through the repurchase of ordinary shares for a total amount of EUR 232 million, equivalent to the value of the stock dividend. These share buybacks will be executed by financial intermediaries under a share buyback programme which is expected to end no later than 30 August 2024. The shares will be repurchased at a price that does not exceed the last independent trade or the highest current independent bid on the relevant trading platform. The share buyback programme will be executed within the limitations of the existing authority granted by the General Meeting on 24 May 2024, and will be performed in compliance with the safe harbour provisions for share buybacks. NN Group intends to cancel any repurchased NN Group shares under the programme unless used to cover obligations under share-based remuneration arrangements or to deliver stock dividend, if applicable.

This programme is in addition to the existing share buyback programme for a total amount of EUR 300 million that was announced on 29 February 2024. NN Group reports on the progress of the share buyback programmes on its corporatewebsiteon a weekly basis.

Payment of the dividend in cash, after deduction of withholding tax if applicable, or payment of the dividend in the form of ordinary shares, as well as settlement of fractions in cash will take place on 20 June 2024. As of the payment of the 2024 interim dividend, NN Group intends to pay dividends in cash only, after deduction of withholding tax if applicable.

For further information: dividend policy and dividend history