ING has announced a cash payment of €0.161 per share, scheduled for January 16, 2025. This is part of the up to €2.5 billion distribution to shareholders, initially revealed on October 31, 2024. The payment calculation is based on a total cash outlay of €500 million and the 3,096 million ordinary shares outstanding as of December 31, 2024.
In addition to the cash payout, the distribution includes a share buyback program worth up to €2 billion. This initiative is underway and is expected to conclude by April 30, 2025. The aim of this distribution strategy is "to converge our CET1 ratio towards our target of around 12.5%."
Updates on the progress of this program are provided weekly through press releases and are available in the Investor section of ING's website.