CBS Increases Stock Dividend by 20%

Expands share buybacks to $4.7 billion
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CBS Corp. said its directors approved an increase in its
stock dividend by 20% to 12 cents a share.

The company also said it increased the size of its share
repurchase program to $4.7 billion.

CBS says that it has spent $1.7 billion since the repurchase
program began in January 2011. It plans to spend the remaining $3 billion by
the end of 2014.

Many media companies have been buying back their own stock
and increasing their dividends as their profits swell as a way to make their
stock more attractive to Wall Street.

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