Comcast Increases Dividend 40%; Intends to Complete Current $3.6 Billion Stock Repurchase Plan Within 36 Months
PHILADELPHIA, Dec 03, 2009 (BUSINESS WIRE) -- Comcast Corporation (Nasdaq: CMCSA, CMCSK), a leading cable, entertainment and communications company, announced today that the Company's planned annual dividend has increased 40% to $0.378 per share. In accordance with the increase, the Board of Directors has increased the quarterly dividend payable on January 27, 2010 to shareholders of record as of the close of business on January 6, 2010 from $0.0675 a share on the Company's common stock to $0.0945 a share. Additionally, Comcast announced its intent to complete its $3.6 billion share repurchase authorization over the next 36 months.
"Today's announcement reflects our confidence in the strength of our business, our financial position and our capacity for continued significant free cash flow generation," said Brian L. Roberts, Chairman and Chief Executive Officer. "The dividend increase, our second in the last year, combined with our intention to repurchase an additional $3.6 billion of our stock over the next 36 months, further reinforces our commitment to enhancing long-term shareholder value."
About Comcast Corporation
Comcast Corporation (Nasdaq: CMCSA, CMCSK) (www.comcast.com) is one of the nation's leading providers of entertainment, information and communication products and services. With 23.8 million cable customers, 15.7 million high-speed Internet customers, and 7.4 million Comcast Digital Voice customers, Comcast is principally involved in the development, management and operation of cable systems and in the delivery of programming content.
Comcast's content networks and investments include E! Entertainment Television, Style Network, Golf Channel, VERSUS, G4, PBS KIDS Sprout, TV One, ten sports networks operated by Comcast Sports Group and Comcast Interactive Media, which develops and operates Comcast's Internet businesses, including Comcast.net (www.comcast.net). Comcast also has a majority ownership in Comcast-Spectacor, whose major holdings include the Philadelphia Flyers NHL hockey team, the Philadelphia 76ers NBA basketball team and two large multipurpose arenas in Philadelphia.
SOURCE: Comcast Corporation
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