Astral Media Inc. has reported an increase in second-quarter revenue and earnings and says it will boost its annual dividend by 50%.
The Montreal-based operator of pay and specialty television, radio, out-of-home advertising and digital media properties, said Thursday that its annual dividend would be increased to 75 cents on all class A and class B shares.
Astral said net income for the three months ended Feb. 28 increased 3% to $34.8 million from $33.6 million in the year-earlier period.
Revenue increased 7% to $232.7 million from $218.3 million.
Meanwhile, the company also announced the appointment of Jacques Parisien to the new position of executive vice-president and chief operating officer.
“I am pleased by the growth we experienced in the second quarter of fiscal 2011 and am delighted that all our business units continue to contribute to our performance quarter after quarter,” president and CEO Ian Greenberg said in a release.
“While benefiting from an improved economic landscape, we maintain our focus on gaining additional operational efficiencies throughout the organization,” Greenberg added.
