Payout suspensions during the Covid-19 pandemic

Davide Pettenuzzo, Riccardo Sabbatucci and Allan Timmermann

Economics Letters, 2023, vol. 224, issue C

Abstract: We provide evidence on the unprecedented rate at which firms suspended dividend payments and share repurchases following the outbreak of the Covid-19 pandemic, compare it to the Global Financial Crisis, and estimate the amount of cash firms saved through payout suspensions.

Keywords: Dividend and buyback suspensions; High frequency data; Financial market distress; Covid-19 (search for similar items in EconPapers)
JEL-codes: G35 (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:224:y:2023:i:c:s0165176523000496

DOI: 10.1016/j.econlet.2023.111024

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