French banks, Societe Generale and Natixis joined a cohort of European peers that announced plans to skip 2019 dividends following the European Central Bank's guidance to direct profits toward supporting the economy during the coronavirus crisis.
France's third-largest bank Societe Generale said on Tuesday its board has decided to cancel dividend distribution for the 2019 financial year and to drop 2020 financial targets.The bank added it was currently analyzing potential scenarios and their impact on the bank's results from the crisis, as well as"potential corrective measures".
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