Note 26: Subsequent events
The Extraordinary General Meeting of November 13, 2018, approved to return an amount of €2.0 billion to shareholders by means of a capital repayment and share consolidation which was executed in January 2019. A share consolidation ratio of 9:8 was applied. We will distribute €1.0 billion by means of a special cash dividend of €4.50 per common share (post consolidation) on February 25, 2019. A share buyback program to repurchase common shares up to the value of €2.5 billion is due to be completed at the end of 2019. We intend to cancel these shares after repurchase. Reference is made to Note 16.
In February 2019, negotiations on the triennial review of the main UK defined benefit pension schemes were concluded. A total of £432 million (€481 million) of cash payments has been agreed in relation to deficit recovery plans for the ICIPF and CPS, including £142 million (€158 million) of pre-funding into an escrow account for the CPS. This is in addition to a top-up payment of £125 million (€139 million) which was paid in January 2019, in accordance with the previously agreed recovery plan. Reference is made to Note 17.