Van Lanschot Kempen postpones 2019 dividend payment

Published: 8.00 CET AM

Van Lanschot Kempen today announced that it will take the advice of the European Central Bank (ECB) and De Nederlandsche Bank (DNB), and delay payment of the 2019 dividend until after 1 October 2020 at the earliest.

 

The world now finds itself in exceptional conditions and Van Lanschot Kempen recognises and understands the call from various sides to proceed with caution when paying dividends. Although not all aspects of the recommendations apply to it as a wealth manager, it has decided to take a responsible approach and not to pay out any dividend at this stage.

Van Lanschot Kempen aims to sustainably preserve and create wealth for its clients and its very robust capital and liquidity buffers enable it to successfully carry out its wealth management strategy. It is fully aware that these may be challenging times for its clients, and it will help with tailored advice and products where needed. Van Lanschot Kempen reported an ample CET 1 ratio of 23.8% at the end of December 2019.

The proposal to adopt the dividend will be put on the agenda for the annual general meeting on 28 May 2020. As soon as circumstances allow – such as the uncertainties over the coronavirus (COVID-19) – in the opinion of the Statutory and Supervisory Boards, and provided that its capital ratio continues to meets the required targets, Van Lanschot Kempen will pay out the 2019 dividend to its shareholders, but no earlier than 1 October 2020.

Publication of Q1 trading update on 7 May 2020
Today, Van Lanschot Kempen also announced that it is postponing the publication of its first quarter 2020 trading update to 7 May 2020 (originally planned for 22 April 2020), as the current conditions related to the coronavirus (COVID-19) are putting pressure on available capacity within the organisation. Many of its employees are working from home, as is much of the Netherlands. This has caused a delay in the work required for the Q1 update.  

Financial calendar
7 May May 2020 - Publication of Q1 trading update
28 May 2020 - Annual General Meeting (AGM)
26 August 2020 - Publication of 2020 half-year results

More information
Media Relations: +31 20 354 45 85; mediarelations@vanlanschotkempen.com
Investor Relations: +31 20 354 45 90; investorrelations@vanlanschotkempen.com