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Dividend and distribution policy

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Distribution policy

ING is committed to maintaining a healthy Group CET1 ratio above the prevailing fully-loaded requirement, plus a comfortable management buffer (including Pillar 2 Guidance). At the same time, ING aims to offer a sustainable and attractive return to shareholders.

As announced on November 5th 2020, ING’s distribution policy is to pay-out 50% of resilient net profit (excluding extraordinary items). The 50% pay-out may be in the form of cash, or a combination of cash and share repurchases, with the majority in cash. Additional distributions to be considered periodically, taking into account alternative opportunities, macro-economic circumstances and the outcome of our capital planning.

The aim is to pay a cash-only interim dividend, representing ~1/3 of first half year resilient net profit, with our half year results. The exact form and level of the final distribution will be subject to approval by the shareholders at the Annual General Meeting. Distribution proposals will reflect considerations that are relevant to a capital plan, including expected future capital requirements, growth opportunities available to the Group and regulatory developments. Furthermore, the execution of this policy will comply with prevailing ECB recommendations on shareholder distributions.

Cash payment per share represent gross amounts which are subject to Dutch dividend withholding tax.


Historic share buyback programmes
Commencement date Buyback amount (€ mln) Completion date Shares purchased Average purchase price
3 Nov 2022 n/a n/a n/a n/a
12 May 2022 380 14 Jul 2022 40,749,792 9.41
5 Oct 2021 1,744 25 Feb 2022 139,711,040 12.47

Cash dividends Euronext Amsterdam
Financial year Amount (€ mln) Amount per share (€) Record date Payment date
2022        
Additional 874 0.232 11 May 2022 18 May 2022
Interim 636 0.170 9 Aug 2022 15 Aug 2022
Additional tbd tbd 10 Jan 2023 16 Jan 2023
Final tbd tbd 27 Apr 2023 5 May 2023
Total 1,510 0.402    
 
2021        
Interim 820 0.210 5 Oct 2021 12 Oct 2021
Additional* 1,054 0.270 5 Oct 2021 12 Oct 2021
Final 1,545 0.410 28 Apr 2022 9 May 2022
Total 3,419 0.890    
 
2020        
Final* 468 0.120 17 Feb 2021 24 Feb 2021
Total 468 0.120    
 
2019        
Interim* 935 0.240 6 Aug 2019 12 Aug 2019
Total 935 0.240    
 
2018        
Interim 934 0.240 7 Aug 2018 14 Aug 2018
Final 1,714 0.440 26 Apr 2019 2 May 2019
Total 2,648 0.680    
 
2017        
Interim 933 0.240 7 Aug 2017 14 Aug 2017
Final 1,670 0.430 26 Apr 2018 3 May 2018
Total 2,603 0.670    
 
2016        
Interim 931 0.240 8 Aug 2016 15 Aug 2016
Final 1,629 0.420 11 May 2017 18 May 2017
Total 2,560 0.660    
 
2015        
Interim 929 0.240 10 Aug 2015 17 Aug 2015
Final 1,590 0.410 28 Apr 2016 4 May 2016
Total 2,519 0.650    
 
2014        
Final 464 0.120 14 May 2015 21 May 2015
Total 464 0.120    


Cash dividends New York Stock Exchange (ADR holders**)
Financial year Amount ($ mln) Amount per share ($) Record date Payment date
2022        
Additional n/a 0.244 16 May 2022 25 May 2022
Interim n/a 0.173 15 Aug 2022 22 Aug 2022
Additional   tbd 17 Jan 2023 23 Jan 2023
Final   tbd 27 Apr 2023 12 May 2023
Total n/a 0.417    
 
2021        
Interim n/a 0.242 5 Oct 2021 19 Oct 2021
Additional* n/a 0.311 5 Oct 2021 19 Oct 2021
Final n/a 0.413 28 Apr 2022 16 May 2022
Total n/a 0.966    
 
2020        
Final* n/a 0.145 24 Feb 2021 3 Mar 2021
Total n/a 0.145    
 
2019        
Interim* n/a 0.269 12 Aug 2019 19 Aug 2019
Total n/a 0.269    
 
2018        
Interim n/a 0.272 13 Aug 2018 21 Aug 2018
Final n/a 0.492 26 Apr 2019 9 May 2019
Total n/a 0.764    
 
2017        
Interim n/a 0.282 14 Aug 2017 21 Aug 2017
Final n/a 0.514 26 Apr 2018 11 May 2018
Total n/a 0.796    
 
2016        
Interim n/a 0.268 15 Aug 2016 22 Aug 2016
Final n/a 0.465 11 May 2017 25 May 2017
Total n/a 0.733    
 
2015        
Interim n/a 0.265 17 Aug 2015 24 Aug 2015
Final n/a 0.470 28 Apr 2016 11 May 2016
Total n/a 0.736    
 
2014        
Final n/a 0.132 14 May 2015 29 May 2015
Total n/a 0.132    

* ING has adhered to the recommendations by the ECB not to pay dividends or buy back shares from 27 March 2020 until 30 September 2021. The only exception was the payment of €0.12 per share on 24 February 2021, which was allowed by the ECB.
** ADR dividends are presented rounded to the second decimal. More information on American Depository Receipts and related dividends can be found at https://www.adr.com/drprofile/456837103. The applicable foreign exchange rate, and thus the final amount, is determined at the time of the dividend payment.

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