1. Capital Market transactions
On 20 March 2024, a.s.r. has successfully priced € 500 million perpetual subordinated 8.25 year Restricted Tier 1 capital securities (“New Securities”). The New Securities were priced at a fixed rate coupon of 6.625% per annum until the first reset date on 27 June 2032. The New Securities are first callable six months prior to the first reset date and on each interest payment thereafter.
In 2024, the 2014 5% perpetual T2 hybrid capital instrument of € 500 million has been fully redeemed.
2. Share buyback programme
In 2024, it was determined that the expected developments of the OCC combined with a robust balance sheet will allow for the resumption of additional capital distribution to shareholders. This was interrupted in 2022 following the announcement of the transaction with Aegon Netherlands. For the financial years 2024, the intention was determined and communicated during the Capital Markets Day 2024 to buy back treasury shares for an amount of € 125 million. This will be decided with the publication of the full annual results with a test of whether the conditions set in the capital and dividend policy for the purchase of own shares have been met.
On 7 November 2024, ASR Nederland N.V. (a.s.r.) announced a share buyback program of € 100 million in own shares following the successful completion of the sale of Knab to BAWAG. The buyback program was completed on 11 December, 2024. In total there are 2.213.413 shares of a.s.r. repurchased at an average price of € 45.18 per share. An independent broker, appointed by a.s.r., carried out the repurchase.
3. Dividend
a.s.r. has proposed a total dividend of € 3.12 per share over the full year 2024 (2023: € 2.89 per share). Taking into account the interim dividend of € 1.16 per share, the final dividend amounts to € 1.96 per share. The final dividend amounts to € 409 million based on the number of shares per 31 December 2024. a.s.r. maintains a progressive dividend policy which increases dividend by mid to high single digit annual growth until 2026.