Dutch bank Van Lanschot Kempen NV's shareholders approved its proposed capital return plan, which was disclosed in August.

The lender intends to return a total of over €60 million in capital, or €1.50 per share, in December, subject to the legally prescribed applicable period. The capital return will be charged to the share premium reserve available for distribution, and hence will be exempted from the Dutch dividend tax.

Van Lanschot Kempen noted the total issued share capital will be unchanged and its common equity Tier 1 ratio will remain above its capital objective of between 15% and 17%. CEO Karl Guha said it was the bank's aim to return at least €250 million to shareholders in the period up to and including 2020, with €210 million to be realized after the completion of this capital return.

The bank's shareholders also approved the proposed nomination of Frans Blom to the supervisory board.