17 ANNUAL REPORT 2010   OUR STRATEGY  INVESTORS presented to the meeting were adopted. During the  meeting, CEO Alex Wynaendts set out details of the  company’s strategy and efforts to focus AEGON on long- term opportunities for growth in its main markets.  Another 15% of AEGON’s shareholders are based  elsewhere in Europe, mainly Germany, France, Norway  and Switzerland.  AEGON’s common shares are listed on three stock  exchanges. The company’s primary listing is in  Amsterdam, but shares are also listed in London and  New York. These listings give AEGON access to  international capital markets and are a vital part of the  company’s overall corporate and financial management  strategies. AEGON delisted its common shares from the  Tokyo Stock Exchange in March 2010 because the  volume traded did not justify the related expense. In  addition, AEGON is also active on world debt markets,  and uses its strong credit rating to issue debt  instruments in various currencies.  New reporting format  Share listings  In May, AEGON introduced a new reporting format to  bring its financial reporting more in line with the way the  company manages its businesses. Under the new format,  AEGON reports underlying earnings and other results  primarily by the following segments:  In addition, AEGON has continued to provide details of  underlying earnings by line of business. The new format  is designed to enhance transparency and reflect recent  organizational changes in the company’s businesses.  AEGON recognizes the importance of a clear, stable  and coherent dividend policy. Dividend payments to  shareholders depend on the company’s cash flow and  capital position. The dividend is composed of two  separate payments: There were also a number of other modifications made  to AEGON’s reporting format. Full details are available on  AEGON’s website (www.aegon.com).  Payment of the interim and final dividends is made in  either stock or cash.  AEGON is not allowed to pay a dividend on its common  shares until the core capital obtained from the Dutch  State through Vereniging AEGON is fully repurchased.  Consequently, AEGON did not declare an interim or  propose a final dividend for 2010.  AEGON has updated its dividend policy on February 24,  2011. AEGON’s common shares are mostly held by institutional  shareholders such as pension or investment funds.  These shareholders include Vereniging AEGON, the  company’s largest shareholder. Vereniging AEGON owns  9.9% of AEGON’s common shares. Please see page 244  to 245 for further details.  To AEGON’s knowledge, only one other party holds a  capital and voting interest in AEGON N.V. in excess of  5%. According to its filing with the United States  Securities and Exchange Commission on February 10,  2011, US-based investment management firm Dodge &  Cox owns over 160 million shares, representing more  than 5% of the issued share capital and voting rights in  the company. AEGON has shareholders all over the world, but around  80% are located in the company’s main markets in North  America, the Netherlands and the United Kingdom.  Dividend policy  Shareholding structure  Shareholder base 2010  Americas United Kingdom The Netherlands Rest of Europe Rest of the world 28% 43% 12% 15% 2% ■ An interim dividend, announced at the same time as  the company’s second quarter results in August.  ■ A final dividend, proposed in February or March  and voted on at the annual General Meeting of  Shareholders in April or May.  ■ Americas (which includes AEGON’s businesses in the  United States, Canada, Mexico and Brazil) ■ The Netherlands ■ United Kingdom ■ New Markets (which encompasses AEGON’s operations  in Asia, Central & Eastern Europe, Spain, France,  Variable Annuities Europe, as well as AEGON Asset  Management) SHARPENING OUR FOCUS Shareholder base 2010 In %