• Monthly dividend increased by 10%
• Consolidated revenues up 7% and segment profit up 1%
• Television revenue up 10% and segment profit maintained
• Radio revenue down 5% and segment profit down 11%
• Net income attributable to equity shareholders from continuing operations up 9%
(January 10, 2012 – Toronto, Canada) Corus Entertainment Inc. (TSX: CJR.B) announces its first quarter financial results.
“We are very pleased with our Q1 results and in particular, the renewed signs of strength we witnessed in the ad economy,” said John Cassaday, President and CEO of Corus Entertainment. “Double digit ad sales growth for our Women’s networks, continued growth on our Kids business powered by strong merchandising sales and strong evidence of a turnaround underway in our Vancouver Radio cluster, are all positive indicators that we are poised to achieve our growth targets in fiscal 2012.”
With the latest dividend increase, CJR.B is now paying $0.24 cents a share per quarter. Corus Entertainment started paying a semi-annual dividend in December of 2003. In December of 2006 they began paying a quarterly dividend and have increased it every year except in 2010. By looking at this chart, we can follow the dividend of CJR.B from 2003 to the present:
I'm surprised that they were so profitable and were able to increase their dividends.
ReplyDeleteI'm a bit wary of the television business since more and more people are just streaming online now etc.
Great graph!
Thanks Y&T.
DeleteWell production companies still have to develop content to be streamed online so I think Corus will be around for a while.