Extract from the Universal Registration Document 2021
|Net Dividend (in EUR)||0,55||0,00||2,20||2,20||2,20|
|Payout ratio (%) (1)||-||-||51,8||75,3||51,6|
|Net yield (%) (2)||-||-||7,9||5,1||4,7|
* Dividend proposed by the Board of Directors to the General Meeting to be held on 18 May 2021 . The dividend per ordinary share and the pay-out rate were fixed on the basis of the 2019 and 2020 results restated for items not affecting the CET1 ratio, pursuant to European Central Bank's recommendations. On this basis, the pay-out rate is 14.2%.
(1) Net dividend/diluted earnings per ordinary share (see Chapter 6, p. 420, Note 7.2 to the consolidated financial statements).
(2) Net dividend/closing price at end-December.
The Board of Directors of Societe Generale, which met on 9 February 2021, decided to propose the distribution of a dividend of EUR 0.55 per share to the General Meeting of 18 May 2021:
- dividend detachment will take place on 25 May 2021;
- the dividend will be paid from 27 May 2021.
The Group intends to launch a share buy-back programme in Q4 2021 for an amount equivalent to the amount assigned to the dividend payment (around EUR 470m, i.e. a negative impact of around 13 basis points on the Group’s CET1 ratio), subject to the non-renewal of the ECB’s recommendation and the authorisation for its implementation. The fully-loaded pro forma ratio would be 13% at end-December 2020 (phased-in pro-forma ratio of 13.3%).