High dividend yield of 7% for Belgian insurer Ageas

Belgian insurer Ageas, known for its strong dividend track record, has announced an unchanged interim dividend of €1.50 gross per share for the 2024 financial year. Ageas, which offers (re)insurance products in Belgium, Asia and elsewhere in Europe, previously paid a significantly higher final dividend of €2.75 per share.

Ageas is known for its strong dividend history with a gradually increasing payout. Because the share price is rising less rapidly, the dividend yield is relatively high at 7% at a price of almost €46 per share. Incidentally, 2024 is going very well with a share price increase of over 16%, which gives the Belgian company a market value of almost €9 billion. The dividend news website Dividendnieuws België shows you a table with all historical dividends paid by Ageas.

AGEAS DIVIDEND HISTORY

• 2024: €3.25 per share
• 2023: €3.00 per share
• 2022: €2.75 per share
• 2021: €2.65 per share

The interim dividend will normally be paid at the end of October or the beginning of November; however, we do not yet know the ex-dividend date of Ageas, which paid a final dividend of €1.75 gross per share in June. The dividend yield is 7% per year at a price of €45.70. Please note that 30% tax is withheld on Belgian shares (the Belgians call this withholding tax); the net result of the €1.50 dividend is a net cash distribution of €1.05 per share. Together with the dividend, a €200 million share buyback program was also announced by Ageas, which will run from 16 September 2024 to 31 July 2025.

Belgium is known for several great dividend growth stocks, including Lotus Bakeries.

Ageas is a listed international insurance group with a history spanning almost 200 years. Ageas offers private and business customers life and non-life insurance products tailored to their specific needs, today and tomorrow, as well as reinsurance activities. As one of Europe's larger insurance companies, Ageas concentrates its activities in Europe and Asia, which together make up the majority of the global insurance market. Ageas operates successful insurance businesses in Belgium, the UK, Portugal, Turkey, China, Malaysia, India, Thailand, Vietnam, Laos, Cambodia, Singapore and the Philippines through a combination of wholly owned subsidiaries and long term partnerships with strong financial institutions and key distributors.