CBS Increases Stock Dividend by 20%

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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.

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.