CBS Corporation is taking some of that "Two and a Half Men" wealth and spreading it around.
The company behind the country's most watched network said Thursday that it will increase its quarterly dividend by 20 percent to 12 cents a share. It also announced that its board of directors had approved bolstering its share repurchase program by 57 percent to $4.7 billion.
To date, CBS has spent $1.7 billion on the share repurchase program, giving it some $3 billion remaining to spend on the initiative. The company said the drive to repurchase shares of its class B common stock should be finished by the end of 2014.
The new dividend is payable to shareholders on Oct. 1, 2012.
Shares of CBS rose nearly 4 percent to $32.35 in early morning trading.
