Published on 6 Jun 2023 on Zacks via Yahoo Finance

Aegon (AEG) Concludes EUR 200M Stock Repurchase Program

Aegon N.V. AEG announced that it has finished its EUR 200 million stock repurchase program. The buyback was announced on Feb 9 of this year and was aimed at returning surplus cash to stockholders. The repurchase started on Feb 10 and ended on Jun 2.

Utilizing the buyback program, AEG repurchased 46,797,567 common shares through a third party, where the average price was recorded at EUR 4.2737 per share. The company intends to cancel the repurchased stocks.

The diversified international insurance company takes shareholder-value boosting measures from time to time. Last year, it bought back shares worth EUR 300 million in three tranches through a similar plan. The company’s cash-generating ability helped it to take such a move. However, in 2023, its operations are likely to face some hiccups.