CBS raises dividend again


CBS Corporation has only been an independent public company for a little over 20 months, but it has announced the 5th increase in its dividend. With the latest increase by 14%, three cents per share, shareholders will receive 25 cents per share when the next quarterly payout is made October 1st to shareholders of record on September 14th. CBS will also use some of the cash from its bulging coffers to buy back 1.6 billion bucks worth of its own stock.
"Raising our dividend and using a portion of our excess cash to buy back shares reaffirms CBS’s commitment to return a sizable portion of our strong free cash flow to shareholders," said CEO Les Moonves. "Since January 1, 2006 we have raised our quarterly dividend by nearly 80%," he added.