Earlier this week, Corus Entertainment announced that the company will be increasing dividends by 10% this year after announcing a $9.1 million in profit in the first quarter (higher than the $90.7 million from the previous year). Revenue from the radio division has dropped and advertising revenue is weaker than last year but the specialty channel business more than made up for the decrease. Things should start to pick up once other companies feel comfortable enough to start using a more liberal marketing budget. The hike is not a surprise to me since Corus has been increasing dividends on an annual basis for at least the last 5 years earning it a spot on the Canadian Dividend Aristocrat list (a great starting point for investment ideas by the way). Corus has been distributing dividends since 2003 and hasn't looked back since. I recently increased my position in Corus and I couldn't have done it at a better time. I'll be holding my position for the forseeable future so keep the hikes coming!
-the Paperboy
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