March 18, 2020 / 2:13 PM / 11 days ago

Software firm Sage Group ditches share buyback amid coronavirus outbreak

(Reuters) - British software company Sage Group (SGE.L) 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 to shareholders.

Reporting by Yadarisa Shabong in Bengaluru; Editing by Shounak Dasgupta

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