...PARIS (S&P Global Ratings) Dec. 20, 2017--S&P Global Ratings said today that its ratings and outlook on F. van Lanschot Bankiers N.V. (###+/Stable/A-2), the operating bank of Van Lanschot Kempen, are unaffected by the bank's announcement that it will pay today an extraordinary dividend totaling over 41 million. This return of capital represents 1 per Class A share in issue and is part of the bank's capital strategy to return at least 250 million to shareholders between 2016 and 2020. The extraordinary dividend will be paid out of the share premium reserve (482.6 million as of June 30, 2017), representing a limited deduction of regulatory capital, in our view. The bank's fully loaded common equity tier 1 ratio was 19.6% at end-June 2017. The bank indicated that the ratio will remain well above its 15%-17% capital objective, including this extraordinary dividend. We view this capital return as neutral for the rating because we expect the bank will maintain a strong capital position in the...
