Corus Entertainment Announces Fiscal 2012 First Quarter Results
January 10, 2012 at 4:32 AM (PT)
CANADIAN broadcaster CORUS ENTERTAINMENT released Q1 financials TODAY (1/10). The highlights:
* Monthly dividend increased by 10%
* Consolidated revenues up 7% and segment profit up 1%
* Television revenue up 10% and segment profit maintained
* Radio revenue down 5% and segment profit down 11%
* Net income attributable to equity shareholders from continuing operations up 9%
"We are very pleased with our Q1 results and in particular, the renewed signs of strength we witnessed in the ad economy," said Pres./CEO JOHN CASSADAY. "Double-digit ad sales growth for our Women's networks, continued growth on our Kids business powered by strong merchandising sales and strong evidence of a turnaround underway in our VANCOUVER radio cluster, are all positive indicators that we are poised to achieve our growth targets in fiscal 2012."
The company also announced that its Board of Directors has approved a $0.09 increase in its annual dividend.
The Company's monthly dividend for holders of its Class A and Class B Shares will increase to $0.079583 and $0.08, respectively. The dividend will be paid on each of FEBRUARY 29th, MARCH 30th and APRIL 30th to shareholders of record at the close of business on FEBRUARY 15th, MARCH 15th and APRIL 16th, respectively.