TORONTO, Jan. 13, 2015 /PRNewswire/ - Corus
Entertainment Inc. (TSX: CJR.B) announced today that its Board
of Directors has approved a $0.05
increase in its annual dividend.
At the new rate, the dividend on an annual basis for the
Company's Class A and Class B Shares is $1.135 and $1.14
respectively, up from the previous rate of $1.085 and $1.09,
respectively.
The Company's monthly dividend for holders of its Class A and
Class B Shares will increase to $0.094583 and $0.095, respectively. The dividend will be paid
on each of February 27,
2015, March 31, 2015 and April 30,
2015 to shareholders of record at the close of business
on February 13, 2015, March 16,
2015 and April 15, 2015,
respectively.
"This 4.6% dividend increase reflects our confidence in the
continued development of our business and is supported by our
strong free cash flow," said Heather
Shaw, Executive Chair, Corus Entertainment Inc. "We
remain committed to returning cash to our shareholders, while
maintaining a focus on reducing our leverage."
The foregoing dividends are designated as "eligible" dividends
for the purpose of the Income Tax Act (Canada) and any similar provincial
legislation.
Corus' Board of Directors reviews the dividend on a quarterly
basis. Shareholders are entitled to receive dividends only when any
such dividends are declared by Corus' Board of Directors and there
is no entitlement to any dividend prior thereto.
Registered shareholders who are residents of Canada and who are not currently participating
in Corus' Dividend Reinvestment Plan ("the Plan") may elect to
participate in the Plan through the completion of an enrollment
form which can be obtained from the Company's plan administrator,
CST Trust Company, on their website at www.canstockta.com or
by calling 1.800.387.0825. The Plan allows eligible holders of
Class A Shares and Class B Shares to acquire additional Class B
Shares through reinvestment of the cash dividends paid on their
respective shareholdings. Non-registered beneficial shareholders
who are residents of Canada and
who wish to join the Plan should consult their broker, financial
institution or other intermediary through which they hold Class A
Shares or Class B Shares.
At this time, Corus' Board of Directors confirms that the
Company will continue to issue shares from treasury at a 2%
discount from the average market price to Plan participants of
record, as determined pursuant to the terms of the Plan.
There were 3,427,792 Class A Voting Shares outstanding and
82,744,270 Class B Non-Voting Shares outstanding on December 31, 2014.
Corus Entertainment Inc. reports in Canadian dollars.
About Corus Entertainment Inc.
Corus Entertainment Inc. is a Canadian-based media and
entertainment company that creates, broadcasts and licenses content
across a variety of platforms for audiences around the world. The
Company's portfolio of multimedia offerings encompasses specialty
television and radio with additional assets in pay television,
television broadcasting, children's book publishing, children's
animation and animation software. Corus' brands include YTV,
TELETOON, ABC Spark, W Network, OWN: Oprah Winfrey Network
(Canada), HBO Canada, Historia and
Séries+, as well as Nelvana, Kids Can Press, Toon Boom and 39
radio stations including CKNW AM 980, Rock 101, Country 105, 630
CHED, Fresh FM London, JUMP! 106.9, Q107 and 102.1 the Edge. A
publicly traded company, Corus is listed on the Toronto Stock
Exchange (CJR.B). Experience Corus on the web at
www.corusent.com.
SOURCE Corus Entertainment Inc.
