July 21, 2020 / 12:14 PM / 22 days ago

Spanish firms getting solvency support to cope with covid crisis won't be able to pay dividends

MADRID, July 21 (Reuters) - Spanish companies receiving government support to boost their solvency in order to weather the impact from the coronavirus outbreak will not be allowed to pay dividends, Budget Minister Maria Jesus Montero said on Tuesday.

Earlier in July, the government approved new state-backed credit lines of up to 50 billion euros, including a 10 billion euro fund to potentially bail out companies in strategic sectors that are considered viable but are experiencing solvency problems due to the coronavirus. (Reporting by Jesús Aguado; editing by Inti Landauro and Ingrid Melander)

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