By Nathan Allen 
 

Societe Generale SA France (GLE.FR) said Wednesday that it will increase its share capital by 4.9% after shareholders owning a majority of its shares chose to receive the 2018 dividend in new shares.

The French lender said it will issue 39.8 million shares after shareholders controlling just over 50% of its capital opted to receive new shares rather than cash.

Issuing the new shares will reduce Societe Generale's CET1 ratio--a measure of capital strength--by 24 basis points, the bank said.

 

Write to Nathan Allen at nathan.allen@dowjones.com

 

(END) Dow Jones Newswires

June 12, 2019 02:40 ET (06:40 GMT)

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