Societe Generale (SCGLY) offers a high-dividend yield and good dividend growth prospects due to its recent capital build above expectations, which led to an excess capital position. However, the market is not expecting a higher dividend payout target and this could be a strong reason for a re-rating of the bank’s shares.
Business Profile
SocGen is a French bank with a large exposure to retail banking, namely in its domestic market, and to Corporate and Investment Banking (CIB). It has a market capitalization of about $29 billion and trades in the U.S. on