Pearson: share buyback put on 'pause'
(CercleFinance.com) - British educational publisher Pearson said that it has decided to "pause" its share buyback to manage the impact of the COVID-19 pandemic on its business, citing the likelihood of "prolonged" uncertainty.
The company also noted that the disruption created by the coronavirus crisis is moving many to investigate digital learning, prompting a "rapidly growing interest" for its online learning activities.
Pearson added that it has "significant financial headroom," with approximately 1 billion pounds in total liquidity immediately available from cash and credit facilities.
Its shares were still down over 12% on Monday in London.
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