ING AGM adopts 2016 Annual Accounts. As announced on 16 March 2017, Koos Timmermans will become chief financial officer, succeeding Patrick Flynn, who has decided to pursue his career outside of ING. Steven van Rijswijk will succeed Wilfred Nagel who continues as a member of the Executive Board and chief risk officer until 1 August 2017. Steven van Rijswijk will become chief risk officer as per that date.
The Annual General Meeting (AGM) of ING Groep N.V. adopted the 2016 Annual Accounts today and declared a total dividend for 2016 of EUR 0.66 per ordinary share. Taking into account the interim cash dividend of EUR 0.24 paid in August 2016, the final dividend amounts to EUR 0.42 per share, to be paid fully in cash. ING's shares will be quoted ex-dividend on Euronext Amsterdam as of 10 May 2017, coinciding with the publication of ING's first quarter 2017 results. The record date for the final dividend 2016 entitlement is 11 May 2017. The final dividend will be made payable on 18 May 2017. For holders of American Depositary Receipts (ADR), the final dividend will be made payable on 25 May 2017.
The AGM reappointed CEO Ralph Hamers and appointed Koos Timmermans and Steven van Rijswijk as members to the Executive Board of ING. As announced on 16 March 2017, Koos Timmermans will become chief financial officer, succeeding Patrick Flynn, who has decided to pursue his career outside of ING. Steven van Rijswijk will succeed Wilfred Nagel who continues as a member of the Executive Board and chief risk officer until 1 August 2017. Steven van Rijswijk will become chief risk officer as per that date.
The AGM reappointed Hermann-Josef Lamberti, Robert Reibestein and Jeroen van der Veer to the Supervisory Board of ING. In addition, the AGM appointed Jan Peter Balkenende, Margarete Haase and Hans Wijers as members of the Supervisory Board. As announced on 16 March 2017, Isabel Martín Castellá has retired from the Supervisory Board as per the end of the AGM 2017, having reached the ING age limit for the Supervisory Board members.
After the AGM, the Supervisory Board of ING consists of:
Jeroen van der Veer, Chairman** Margarete Haase*
Jan Peter Balkenende* Hermann-Josef Lamberti Eric Boyer de la Giroday Robert Reibestein
Henk Breukink Ann Sherry
Mariana Gheorghe Hans Wijers*
*The appointments of Jan Peter Balkenende and Hans Wijers will become effective as per 1 September 2017. In light of a planned reduction of the total number of her board positions, the appointment of Margarete Haase will become effective at a later date upon the decision of the Supervisory Board. ** It is the intention of the Supervisory Board that Hans Wijers succeeds Jeroen van der Veer as chairman of the Supervisory Board as per the end of the 2018 AGM. Therefore the AGM has reappointed Jeroen van der Veer as member of the Supervisory Board for a period of one year; i.e. ending per the end of the 2018 AGM.
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Elements of this press release contain or may contain information about ING Groep N.V. and/ or ING Bank N.V. within the meaning of Article 7(1) to (4) of EU Regulation No 596/ 2014.
Projects may be subject to regulatory approvals. Insofar as they could have an impact in Belgium, all projects described are proposed intentions of the bank. No formal decisions will be taken until the information and consultation phases with the Work Council have been properly finalised.
Certain of the statements contained herein are not historical facts, including, without limitation, certain statements made of future expectations and other forward-looking statements that are based on management's current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Actual results, performance or events may differ materially from those in such statements due to a number of factors, including, without limitation: (1) changes in general economic conditions, in particular economic conditions in ING's core markets, (2) changes in performance of financial markets, including developing markets, (3) potential consequences of European Union countries leaving the European Union or a break-up of the euro, (4) changes in the availability of, and costs associated with, sources of liquidity such as interbank funding, as well as conditions in the credit and capital markets generally, including changes in borrower and counterparty creditworthiness, (5) changes affecting interest rate levels, (6) changes affecting currency exchange rates, (7) changes in investor and customer behaviour, (8) changes in general competitive factors, (9) changes in laws and regulations and the interpretation and application thereof, (10) geopolitical risks and policies and actions of governmental and regulatory authorities, (11) changes in standards and interpretations under International Financial Reporting Standards (IFRS) and the application thereof, (12) conclusions with regard to purchase accounting assumptions and methodologies, and other changes in accounting assumptions and methodologies including changes in valuation of issued securities and credit market exposure, (13) changes in ownership that could affect the future availability to us of net operating loss, net capital and built-in loss carry forwards, (14) changes in credit ratings, (15) the outcome of current and future legal and regulatory proceedings, (16) ING's ability to achieve its strategy, including projected operational synergies and cost-saving programmes and (17) the other risks and uncertainties detailed in the most recent annual report of ING Groep N.V. (including the Risk Factors contained therein) and ING's more recent disclosures, including press releases, which are available on www.ING.com. Many of those factors are beyond ING's control.
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AGM press release: http://hugin.info/130668/R/2102574/797362.pdf
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients. The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein. Source: ING Group via GlobeNewswire