Viacom Raises Stock Dividend By 9%

By Jon Lafayette
( Broadcasting & Cable )
published

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."

Jon Lafayette
Jon Lafayette

Jon has been business editor of Broadcasting+Cable since 2010. He focuses on revenue-generating activities, including advertising and distribution, as well as executive intrigue and merger and acquisition activity. Just about any story is fair game, if a dollar sign can make its way into the article. Before B+C, Jon covered the industry for TVWeek, Cable World, Electronic Media, Advertising Age and The New York Post. A native New Yorker, Jon is hiding in plain sight in the suburbs of Chicago.