Corus Reports Q3 Financials, Declares Montly Dividend
July 12, 2012 at 5:32 AM (PT)
CORUS ENTERTAINMENT has released its third-quarter financial results. The highlights:
* Year-to-date free cash flow up 17%
* Net income attributable to shareholders up 7%
* Basic earnings per share up 6% to $0.52 per share
* Consolidated revenues and segment profit down 4%
* Strong segment profit margins at Television (43%) and Radio (33%)
"Despite tough year-over-year comparables, we delivered a solid performance in the quarter, growing net income and earnings per share, maintaining our exceptional margins through rigorous cost controls and continuing to generate impressive free cash flow," said Pres./CEO JOHN CASSADAY. "Our specialty advertising revenues in the quarter were impacted by soft demand in the Kids segment, which overshadowed the continued strong performance in our Women's vertical and newer services, including ABC Spark. Looking ahead, our exceptional brands, superior programming and disciplined cost controls position us well for a recovery in the advertising market."
Corus Declares Monthly Dividend
CORUS' Board of Directors has declared monthly dividends of $0.079583 per Class A Share and $0.08 per Class B Share payable on each of AUGUST 31st, 2012, SEPTEMBER 28th, 2012 and OCTOBER 31st, 2012 to shareholders of record at the close of business on AUGUST 15th, 2012, SEPTEMBER 14th, 2012 and OCTOBER 15th, 2012 respectively.