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Rogers Communications Triples Annual Shareholder Dividend

6:30 am on May 29, 2007 | Category: Business, Corporate

Canadian cable and media giant, Rogers Communications, more than tripled its annual shareholder dividend yesterday, reflecting the company’s â€œcontinued confidenceâ€ in its current business strategy.

The new dividend will total $0.50/share per year, up from $0.16/share previously. Rogers will pay its first quarterly dividend of 12.5 cents on July 3.

“This very significant increase in our annual dividend reflects our board of directors’ continued confidence in the strategies that we have employed to position Rogers as a rapidly growing and increasingly profitable communications company,” said the company’s president and CEO, Ted Rogers.

“These actions also recognize the importance of returning meaningful portions of the growing cash flows being generated by our business to our shareholders,” Rogers added.

Share in Rogers Communications rose in value by C$1.17, or 2.69%, yesterday on the Toronto Stock Exchange, to close at C$44.62.

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