Software firm Sage Group ditches share buyback amid coronavirus outbreak [Reuters]
SAGE GROUP UNSP/ADR (SGPYY)
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Source: Reuters
Software firm Sage Group ditches share buyback amid coronavirus outbreak March 18 (Reuters) - British software company Sage Group said on Wednesday it has suspended its share buyback plan to preserve liquidity following the coronavirus pandemic. “Whilst the impact of COVID-19 on Sage’s business performance to date has been limited, the Board believes that given the highly uncertain economic outlook it is prudent to suspend the share buy-back,” the company said. The company had planned to return 250 million pounds ($294.58 million) to shareholders.
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