Corus Q1 Revenues, Profit Rise
January 12, 2006 at 6:41 AM (PT)
CORUS ENTERTAINMENT first quarter radio advertising revenue rose 10% to C$72.4 million, with segment profit up 4% to C$21.9 million, impacted in part by the sale of the company's RED DEER, AB cluster and the big QUEBEC station swap. Same station revenue jumped 9% and segment profit rose 12%. Overall revenues were up 8% to C$195.3 million, with segment profit up 12% to C$69.8 million and net income up from C$29.1 million to C$31.4 million (68 to 73 cents/basic share and 68 to 72 cents/diluted share).
CORUS' Board of Directors has in addition approved an increase in its dividend, which will now be paid quarterly instead of semi-annually; class A shares will now receive a dividend of C9 3/4 cents and class B shares will get C10 cents/share, payable on MARCH 31 to shareholders of record on MARCH 15.