UK firms using COVID borrowing scheme face dividend and bonus curbs
Share:
LONDON (Reuters) - British businesses will face curbs on dividends and executive pay if they get more than 50 million pounds of government-backed coronavirus loans or borrow from the Bank of England for more than a year.The government said its Coronavirus Large Business Interruption Loan Scheme (CLBILS) would expand its maximum loan size to 200 million pounds from 50 million pounds.But businesses that take advantage of the larger loans will be unable to pay dividends, undertake share buybacks or..