Van Lanschot Kempen postpones 2019 dividend payment
Amsterdam/’s-Hertogenbosch, the Netherlands, 3 April 2020
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 AGENDA
7 May 2020 Publication of Q1 2020 trading update
28 May 2020 Annual general meeting
26 August 2020 Publication of 2020 half-year figures
Media Relations: 020 354 45 85;
Investor Relations: 020 354 45 90;
About Van Lanschot Kempen
Van Lanschot Kempen, a wealth manager operating under the Van Lanschot, Kempen and Evi 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.
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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.
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.
Elements of this press release contain information about Van Lanschot Kempen NV and/or Van Lanschot Kempen Wealth Management NV within the meaning of Article 7(1) to (4) of EU Regulation No. 596/2014.
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.
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