Corporate payout, cash holdings, and the COVID-19 crisis: Evidence from the G-7 countries

Christos Ntantamis and Jun Zhou

Finance Research Letters, 2022, vol. 50, issue C

Abstract: This paper examines the impact of the COVID-19 pandemic on the adjustments of dividends and share repurchases of publicly listed firms in the G-7 countries. Firms in the United Kingdom, Germany, France, and Italy experienced a widespread cut in dividends, while firms in the United States and Canada cut cash payout more via share repurchases, with Japanese firms in between. Corporate cash holdings helped mitigate the negative impact of COVID on payout adjustments, but the impact was less significant for European firms.

Keywords: COVID-19; Dividends; Share repurchases; Cash holdings; G-7 countries (search for similar items in EconPapers)
Date: 2022
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Citations: View citations in EconPapers (7)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:50:y:2022:i:c:s1544612322004639

DOI: 10.1016/j.frl.2022.103275

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