PARIS (dpa-AFX) - French banking major Societe Generale S.A. (SCGLF.PK, SCGLY.PK) reported Thursday higher net income and net banking income in its second quarter.
Further, the company announced that a distribution of excess capital will be made in the form of an additional 1 billion euros share buy-back. The program will be launched as soon as August 4.
In addition, the Board of Directors approved an amendment to the distribution policy, introducing an interim cash dividend payable in the fourth quarter of each year from 2025 onwards. For the first half of 2025, an interim dividend of 0.611 euro per share will be paid on October 9.
In the second quarter, Group net income climbed 30.6 percent to 1.45 billion euros from last year's 1.11 billion euros. Operating income of 2.11 billion euros grew 21.8 percent from 1.73 billion euros a year ago.
Net banking income increased 1.6 percent to 6.79 billion euros from prior year's 6.69 billion euros. The growth was 7.8% at constant exchange rates.
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