Viacom board of directors approves 67% increase in quarterly dividend to US$0.25/share of class A, B stock from US$0.15/share
May 25, 2011
– Viacom Inc. (NYSE: VIA and VIA.B) today announced that its Board of Directors has approved a 67% increase in its quarterly dividend to $0.25 per share of Class A and B common stock from $0.15 per share.
The dividend will be payable on July 1, 2011 to stockholders of record at the close of business on June 15, 2011.
Viacom President and CEO Philippe Dauman said, "Viacom is in excellent shape financially and momentum across our businesses is strong. This substantial increase in our dividend, as well as our ongoing stock buyback program, reflects the confidence we have in our ability to generate ample free cash flow to support returning greater value to our stockholders while continuing to maintain a strong balance sheet and invest in the long-term growth of our operations."
Viacom is home to the world's premier entertainment brands. Through its BET Networks, MTV Networks and Paramount Pictures divisions, Viacom connects with audiences through compelling content across television, motion picture, online and mobile platforms in more than 160 countries and territories. With approximately 170 media networks reaching more than 600 million global subscribers, Viacom's leading brands include MTV, VH1, CMT, Logo, BET, CENTRIC, Nickelodeon, Nick Jr., TeenNick, Nicktoons, Nick at Nite, COMEDY CENTRAL, TV Land, Spike TV and Tr3s. Paramount Pictures, America's oldest film studio and creator of many of the most beloved motion pictures, continues today as a major global producer and distributor of filmed entertainment. Viacom operates a large portfolio of branded digital media experiences, including many of the world's most popular properties for entertainment, community and casual online gaming.