February 13, 2020 / 6:28 AM / 11 days ago

BRIEF-NN Group Operating Result Up At 428 Million Euros

Feb 13 (Reuters) - NN GROUP NV:

* 4Q19 NET RESULT OF EUR 329 MILLION VERSUS EUR -533 MILLION IN 4Q18 WHICH INCLUDED A GOODWILL IMPAIRMENT

* 4Q19 OPERATING RESULT INCREASED TO EUR 428 MILLION FROM EUR 343 MILLION IN 4Q18

* FURTHER COST SAVINGS OF EUR 36 MILLION IN 4Q19

* 2019 FINAL DIVIDEND PROPOSAL OF EUR 1.40 PER ORDINARY SHARE (EUR 448 MILLION), BRINGING THE FULL-YEAR 2019 DIVIDEND TO EUR 2.16 PER ORDINARY SHARE (EUR 698 MILLION)

* SHARE BUYBACK PROGRAMME OF EUR 250 MILLION TO BE COMPLETED WITHIN 12 MONTHS, ANTICIPATED TO COMMENCE ON 2 MARCH 2020

* UPDATED DIVIDEND POLICY CONSISTING OF A PROGRESSIVE DIVIDEND PER SHARE AND A RECURRING ANNUAL SHARE BUYBACK OF AT LEAST EUR 250 MILLION

* GOING FORWARD WE WILL PAY A PROGRESSIVE ORDINARY DIVIDEND PER SHARE

* WE WILL ALSO CONTINUE TO RETURN EXCESS CAPITAL TO SHAREHOLDERS, WITH A RECURRING ANNUAL SHARE BUYBACK OF AT LEAST EUR 250 MILLION UNDER NORMAL CIRCUMSTANCES

* SOLVENCY II RATIO 218% Source text : bit.ly/2SnHIep Further company coverage: (Gdansk Newsroom)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below