AEGON is organizing an investor day that starts on 21 June at 4:30pm and ends on 22 June at 3:45pm. At that occasion AEGON publishes the details of the strategy that aims to deliver sustainable earnings growth.
More specific, AEGON aims to:
- Grow underlying earnings before tax on average by 7-10% per annum between 2010 and 2015;
- Achieve a return on equity of 10-12% by 2015;
- Increase the fee business to 30-35% of underlying earnings by 2015;
- Increase normalized operational free cash flow by 30 by 2015;
- Resume dividend payments with dividend of € 0.10 per common share related to 2H11 in May 2012.
AEGON fully repaid the remaining Dutch State aid which means that the company can now focus on its updated financial targets. Targets seem achievable although we currently target a ROE of 8.6% by 2015.
We remain Accumulating with an unchanged target at € 7.0.