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.