Scripps Networks Interactive’s board has authorized an additional $1 billion for its share repurchase program. The prior share repurchase authorization had $647 million remaining as of 12/31/13. The board also has increased its quarterly dividend rate and declared a quarterly dividend of 20 cents per share up from 15 cents. This dividend will be payable on 3/10/14, to shareholders of record at the close of business on 2/28/14.
Scripps Networks Interactive owns HGTV, DIY Network, Food Network, Cooking Channel, Travel Channel and Great American Country, which collectively reach more than 170 million consumers each month.