Societe Generale Advances Its Share Buyback Program Efforts
Overview of the Share Buyback Program
Societe Generale has initiated a significant share buyback program, with a target of EUR 872 million aimed at canceling shares to enhance shareholder value. This decision was made public on a recent Thursday, marking an important step in the bank's strategy to optimize its capital structure and return excess cash to shareholders.
Regulatory Compliance
In alignment with regulatory standards set forth by EU legislation on market abuse, Societe Generale has secured all necessary approvals from supervisory bodies to execute this share buyback program. The transactions are being conducted on the trading platforms where Societe Generale shares are actively traded, adhering to the guidelines established by the company's General Meeting.
Execution Period of the Buyback Program
The buyback program has been effectively underway, with notable progress made as of March 21. To date, Societe Generale has successfully repurchased shares representing 1.5% of its share capital. This ongoing commitment reflects the bank's confidence in its operational health and long-term growth strategy.
Summary of Recent Share Purchases
From March 17 to 21, a series of share purchases were executed as part of this program. Below is a summary of key transactions conducted during this period, detailing quantities and pricing to illustrate the scope of the buyback:
Daily Purchase Summary
The bank executed several transactions during this week, with a total of 1,081,778 shares repurchased at an average price of approximately EUR 42.25. This figure illustrates the bank's strategic approach to capital management and shareholder return:
- March 17: 12,567 shares at EUR 41.19
- March 18: 10,701 shares at EUR 41.87
- March 19: 163,788 shares at EUR 42.64
- March 20: 491,223 shares at EUR 42.23
- March 21: 279,500 shares at EUR 42.18
Societe Generale's Commitment to Shareholders
Societe Generale continuously commits to creating value for its shareholders. By conducting this share buyback program, the company aims to demonstrate its financial strength and dedication to providing sustainable returns. This aligns with the bank's broader vision of enhancing customer relations and investing in future growth opportunities.
Contact Information
For inquiries regarding this program or any other information, interested parties can reach out to the designated press contacts:
Jean-Baptiste Froville: +33 1 58 98 68 00
Fanny Rouby: +33 1 57 29 11 12
The company continues to operate as a leading financial institution, employing over 126,000 personnel globally and serving about 25 million clients. Their extensive network and diverse banking services reinforce their commitment to driving economic growth and supporting various business sectors.
Frequently Asked Questions
What is the purpose of the share buyback program?
The share buyback program aims to enhance shareholder value by repurchasing shares for cancellation, thereby optimizing the capital structure of Societe Generale.
When did the buyback program start?
The program commenced on February 10, 2025, with a total allocation of EUR 872 million.
How many shares have been repurchased so far?
As of March 21, 2025, Societe Generale has repurchased a total of 1,081,778 shares, which accounts for 1.5% of its share capital.
Where can I find additional information about the company's financials?
Further details regarding financial performance and strategic initiatives can be found on the official Societe Generale website.
How does this buyback align with Societe Generale's long-term goals?
This initiative is part of Societe Generale's strategy to reinforce its capital position while delivering sustainable growth and value creation for stakeholders.
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