CBS Corp. Announces More Stock Buybacks, Dividend Boost
July 27, 2012 at 3:51 AM (PT)
CBS CORP. has announced its plans to buy back an additional $1.7 billion added to the previously-approved (NET NEWS 11/4/2010) $3 billion buyback of its shares as well as an increase its dividend.
The buyback is planned to be complete by the end of 2014; the buybacks started in JANUARY 2011 and has resulted in $1.7 billion in purchases of non-voting Class B shares to date.
The quarterly dividend increase will see the payments go from 10 to 12 cents per share effective OCTOBER 1st.