Sage’s ability to secure new customers has dropped dramatically with the impact of the COVID-19 virus. Nevertheless, the company said this week it will not layoff or furlough people nor will it accept government support. 

 “In April, new customer acquisition ran at roughly half the level we had previously expected for the month,” CEO Steve Hare said during the webcast for financial results for the first half ended March 31. It also increased its interim dividend by 2.5 percent. Sage has cancelled its share buyback program, but the move to not only keep but raise the dividend is contrary to what many companies are doing. The company has slowed but not frozen hiring. Underlying the company’s plans is what it called “$1.3 billion in cash and available liquidity.” 

Last modified on Wednesday, 13 May 2020
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