(Toronto, Canada) Corus Entertainment Inc. (TSX: CJR.NV.B; NYSE: CJR) announced today that its Board of Directors has approved an increase to its semi-annual dividend, for holders of its Class A and Class B shares, to $0.045 and $0.05 respectively. The Company’s dividend will be paid on June 30, 2005 to shareholders of record at the close of business on June 15, 2005.
“The Company’s free cash flow continues to grow and our business prospects remain positive. Our objective is to ultimately deliver a dividend yield comparable to our media company peers,” said Heather Shaw, Executive Chair of Corus Entertainment.
There were 1,724,929 Class A voting shares outstanding and 41,041,401 Class B non-voting shares outstanding on February 28, 2005. Corus Entertainment is a Canadian-based media and entertainment company. Corus is a market leader in both specialty TV and Radio. Corus also owns Nelvana Limited, a leading international producer and distributor of children’s programming and products. The company’s other interests include publishing, television broadcasting and advertising services. A publicly traded company, Corus is listed on the Toronto (CJR.NV.B) and New York (CJR) Exchanges.
President and Chief Executive Officer Corus Entertainment Inc. (416) 642-3770
Senior Vice President & Chief Financial Officer Corus Entertainment Inc. (416) 642-3780
Vice President, Communications Corus Entertainment Inc. (416) 642-3792