CBS Approves 15-Cent Quarterly Dividend

Company held annual shareholder meeting on Thursday

Last Updated: May 21, 2015 @ 10:34 AM

CBS Corporation announced today that its Board of Directors has approved a quarterly dividend on the company’s stock of $0.15 per share. The dividend will be payable on July 1, 2015, to shareholders of record on June 10, 2015.

At the time of this writing, CBS Corp. stock (CBS) was up on Thursday by $0.77 per share — or 1.26 percent — reaching $61.85.

CBS held its annual shareholder meeting earlier on Thursday.

The media corporation’s businesses are wide-ranging, and include CBS Television Network, The CW (a joint venture between CBS Corporation and Warner Bros. Entertainment), CBS Television Studios, CBS Global Distribution Group (CBS Studios International and CBS Television Distribution), CBS Consumer Products, CBS Home Entertainment, CBS Interactive, CBS Films, Showtime Networks, CBS Sports Network, Pop (a joint venture between CBS Corporation and Lionsgate), Smithsonian Networks, Simon & Schuster, CBS Television Stations, CBS Radio and CBS EcoMedia.

The company beat Wall Street’s earnings expectations in its most-recent quarter, the first of fiscal (and calendar) 2015. The company reported diluted earnings per share of 78 cents for the three-month period — a record for CBS Corp. Analysts had set the bar three pennies lower.

“We had terrific first-quarter results in streaming, both internationally and domestically, as well as retransmission consent and reverse compensation, which are steadily making their way toward $2 billion in revenue by 2020 if not before,” President and CEO Les Moonves (picture above) said at the time.


Looks like you’re enjoying reading
Keep reading by creating
a free account or logging in.