French companies benefiting from state aid can't buy back shares: minister

  • 📰 Reuters
  • ⏱ Reading Time:
  • 30 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 97%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

French companies benefiting from financial support from the government to help them through the coronavirus crisis must not buy back their shares, France's finance minister said on Monday.

FILE PHOTO: French Economy Minister Bruno Le Maire attends a press conference after the weekly cabinet meeting, as the spread of the coronavirus disease continues, in Paris, France March 25, 2020. Francois Mori/Pool via REUTERS

PARIS - French companies benefiting from financial support from the government to help them through the coronavirus crisis must not buy back their shares, France’s finance minister said on Monday. Bruno Le Maire had said on Friday that such companies would not be allowed to pay a dividend to shareholders, in order to ensure that their cash stayed invested in the business.

“We won’t tolerate that companies carry out share buybacks or pay dividends to their shareholders ... Buybacks will not be compatible with benefiting from state support,” Le Maire said on BFM TV.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Instant karma's gonna get yaaaa

No buy backs along the line, even at a hefty premium?

They’re using no stock buybacks in order to sway you towards keeping the system going, they’re manipulating you by doing the right thing. RESIST

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines