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CBS Increases Stock Dividend By 20%

CBS Corp. said its board of directors approved a 20% increase in the dividend it pays on its common stock.

The new dividend is 18 cents a share, up from 15 cents a share previously.

The CBS board also voted to increase the amount of money available to repurchase CBS shares to $6 billion. Previously the company had $1 billion remaining in its authorization.

CBS is scheduled to release its second-quarter earnings report Thursday after the close of trading.

(Photo via Ervins Strauhmanis's FlickrImage taken on Sept. 19, 2014 and used per Creative Commons 2.0 license. The photo was cropped to fit 3x4 aspect ratio.)