Corus Revenue Up For Q1
January 9, 2008 at 5:33 AM (PT)
CORUS ENTERTAINMENT first fiscal quarter 2008 revenues rose 3% to C$214.8 million, with radio revenues rising 5% to $79.5 million. Overall segment profit rose 4% to C$83.4 million and net income rose 7% to $39.4 million (94 cents/basic share and 91 cents/diluted share). Radio segment profit rose 8% to $25.5 million.
Pres./CEO JOHN CASSADAY said, "In Q1, we invested in programming and marketing to continue our growth momentum. These solid results were in line with our expectations and our continued confidence in our business has enabled us to once again substantially increase our dividend. We are also pleased to have announced our intention to extend our share buyback program."
The company announced that its Board of Directors has approved a 20 cent increase to its annual dividend, increasing the dividend to 9.917 cents/Class A share and 10 cents/Class B share, payable on each of FEBRUARY 29, MARCH 31, and APRIL 30 to shareholders of record as of FEBRUARY 14, MARCH 14, and APRIL 15, respectively.