Corus Entertainment Inc. has boosted its dividend after third-quarter results improved, driven by an uptick in advertising revenues for its specialty television channels.
The Toronto-based company, which operates specialty channels such as OWN: The Oprah Winfrey Network and Teletoon, said its monthly dividend will increase by 16% to 7.25 cents per share for Class B shareholders.
Corus said television advertising revenues were up 15% in the three month period.
The boost comes as the company said quarterly profits rose to $39.2 million, or 47 cents per share. That compares to profits of $28.3 million a year ago, or 35 cents per share.
Revenue increased to $211.8 million from $198.4 million.
