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Corus says will not renew share buyback program, will defer dividend decision
The Fly

Corus says will not renew share buyback program, will defer dividend decision

While the Company’s financial priorities remain unchanged, in light of the foregoing as well as considering the continuing low visibility into the macroeconomic environment, in addition to continuing to take rigorous cost reduction measures, the Company believes it is prudent to conserve cash out of an abundance of caution. As such, the Company will not renew its share buyback program when it expires on January 16, 2023. In addition, consistent with this approach, the Company’s Board of Directors has decided to defer its decision on the declaration of the March dividend at this time. The outside date for a decision on the declaration of a March dividend is March 15, 2023. The Company will also use this opportunity to consider the alignment of dividend declaration and payment dates. The Company understands the importance of the dividend to its shareholders and remains committed to its long-term dividend philosophy.

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