Viacom Raises Stock Dividend By 9%

Company will pay 30 cents per quarter
Author:
Publish date:
Social count:
0

Viacom said its board approved a 9% increase in its
quarterly stock dividend to 30 cents a share.

Many media companies have been buying back stock and
increasing their dividend as a way to increase the attractiveness of their
shares.

"Viacom is pleased to provide even greater value to
shareholders through another increase in our quarterly dividend -- the third
increase since we initiated our dividend three years ago," CEO Philippe Dauman
said in a statement. "Our solid balance sheet and strong cash flow provide us
the flexibility for continued investment in our popular brands and properties
while delivering substantial capital directly to stockholders through dividends
and our ongoing $10 billion share repurchase program."

Related