Ally Suspends Stock Repurchases

By Staff Writer March 19, 2020

Ally Financial Inc. announced that it will suspend its repurchases of common stock for the remaining period of the first quarter and second quarter of 2020. 

Ally, in a release stated it “is committed to ‘Do It Right’ for its stakeholders and is actively supporting customers, employees, and communities in this unprecedented environment. This voluntary action is being taken to support the Federal Reserve’s effort to mitigate the impact of the COVID-19 pandemic on the U.S. economy and the financial system. Ally has consistently passed the Federal Reserve’s stress tests, maintains strong capital and liquidity levels and has a demonstrated history of serving its stakeholders during periods of economic stress.”

The move will not impact planned dividend payments to shareholders, Ally reported.

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Last modified on Monday, 23 March 2020 13:12

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