Société Générale: books exceptional charge for IFRS 5
(CercleFinance.com) - Société Générale announces that as a result of the accounting treatment according to the IFRS 5 standard of divestments that are being finalised, an exceptional charge of about 240 million euros will be booked in the Corporate Centre in Q4 18
The group's management board intends to propose a stable dividend of 2.
20 euros per share for 2018 with shareholders having the opportunity to receive its payment in shares.
Taking into account the transactions signed and this decision by SG's board, the banking group's CET1 ratio on a pro-forma basis is expected to reach between 11.4% and 11.6% in the final quarter of 2018, in line with the group's target of a CET1 ratio of 12% in 2020.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The group's management board intends to propose a stable dividend of 2.
20 euros per share for 2018 with shareholders having the opportunity to receive its payment in shares.
Taking into account the transactions signed and this decision by SG's board, the banking group's CET1 ratio on a pro-forma basis is expected to reach between 11.4% and 11.6% in the final quarter of 2018, in line with the group's target of a CET1 ratio of 12% in 2020.
Copyright (c) 2019 CercleFinance.com. All rights reserved.