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)