CBS Corporation Increases Share Repurchase Program by $1.5B

CBS Corporation

today announced that its Board of Directors has approved a $1.5 billion increase to its ongoing share repurchase program. The Company intends to use the program to continue to repurchase CBS Corporation Class B Common Stock. The expanded share repurchase program is in addition to the increase in the Company's quarterly dividend, which doubled beginning with the payment in the third quarter of 2011. The Company has repurchased a total of $850 million of CBS Corporation Class B Common Stock under its previously authorized $1.5 billion program as of the end of the third quarter of 2011. Going forward, the Company expects to use the authorization remaining from this previous program and the $1.5 billion increase by the end of 2013.