Great news for Astral Media shareholders. The company has decided to hike the dividends by 33%. Along with this, the company announced its plans to buyback stock which will leave less shares outstanding, giving remaining shareholders a larger slice of the pie. Astral Media has 23 television services and is the largest radio company in Canada, with 83 radio stations. They also do outdoor advertisement and you may have seen the logo on billboards and bus shelters around your city. I'm currently long on Astral Media but I feel that I rushed into it and bought it at too high of a price. The increase in dividends makes me feel a little better though and hopefully this is something they'll continue to do because I plan to hold my shares for a long time.
-the Paperboy
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