SocGen Announces New €1 Billion Buyback to Start This Month

Societe Generale SA unveiled a €1 billion ($1.2 billion) share buyback, a boost for investors who have been holding out for more payouts.

The “new exceptional capital distribution” will begin on Nov. 19 at the earliest, according to a statement Monday. The bank has obtained all “necessary authorizations,” including from the European Central Bank, it said.