America’s highest-paid CEO, Viacom’s Philippe Dauman, has made good on his promise to share some more of the company’s wealth with investors. The company announced that it will increase its quarterly dividend by 67% to 25 cents a share. The change, along with Viacom’s stock buybacks, reflect “the confidence we have in our ability to generate ample free cash flow,” Dauman said. True, investors can be thankful for the performance of shows such as MTV’s Jersey Shore and movies such as Paramount’s Jackass 3D. But lots of traditional media companies are rewarding shareholders: Many see it as a necessary tactic to keep investors from shifting their attention and cash to other stocks — especially in tech — that appear more likely to grow.
By DAVID LIEBERMAN, Financial Editor | Wednesday May 25, 2011 @ 1:59pm EDTTags: Jackass 3D, Jersey Shore, Philippe Dauman, Viacom, Viacom Quarterly Dividend
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This article was printed from http://www.deadline.com/2011/05/jersey-shore-pays-viacom-increases-dividend-67/