Viacom Announces 67% Increase in Its Quarterly Dividend to $0.25/Share

Viacom Inc. VIA today announced that its Board of Directors has approved a 67% increase in its quarterly dividend to $0.25 per share of Class A and B common stock from $0.15 per share. The dividend will be payable on July 1, 2011 to stockholders of record at the close of business on June 15, 2011. Viacom President and CEO Philippe Dauman said, "Viacom is in excellent shape financially and momentum across our businesses is strong. This substantial increase in our dividend, as well as our ongoing stock buyback program, reflects the confidence we have in our ability to generate ample free cash flow to support returning greater value to our stockholders while continuing to maintain a strong balance sheet and invest in the long-term growth of our operations."