Higher Dividend For Shareholders Of Comcast Corporation (NASDAQ:CMCSA)

Posted by Kristi Scott January 29, 2014 0 Comment 841 views

Comcast Corporation (NASDAQ:CMCSA) reported their Q4 2013 earnings before the opening of the market on Tuesday. The company’s fourth quarter earnings have surpassed analysts’ estimates. As per the announcement made by the company, Comcast will increase the dividend by 15.4%.

Comcast Corp. announced that the consolidated revenue for the fourth quarter had increased from $15.937 billion to $16.926 billion. The operating income for the company came in at $3.647 billion, which was up from last year’s mark by 10%. In addition, the earnings per share on an adjusted basis were reported at 72 cents, which was an increase of 28.6% from last year in the same quarter.

However, the annual revenue for the company stood at $64.657 billion and earnings per share of $2.56.

Comcast s chairman and also the chief executive officer Brian L. Roberts, said, “I am very pleased to report strong results for the 4th quarter and the full year 2013. Our optimism and confidence in the future is demonstrated by our decision to increase our dividend 15% and our plan to repurchase $3 billion of our stock during 2014.”

He added, “Our results highlight the momentum we have achieved and how we are benefiting from scale, our investment in innovative products, and from our focus on operational excellence. Cable’s operating metrics improved across video, high-speed Internet and voice for both the fourth quarter and full year, with a return to video subscriber growth in the 4th quarter. NBCUniversal had an outstanding year, with growth in Broadcast, Cable, Film and Parks. As we begin 2014, we remain excited about our businesses and intend to continue to prudently invest to enhance our strategic differentiation and to drive growth.”

The company announced an increase in quarterly dividend from 19.5 cents to 22.5cents. The company also announced that they will increase the stock repurchase program to a figure of $7.5 billion. The annual dividend offered comes to around 90 cents a share.

About Kristi Scott

Kristi Scott joined GDP Insider in 2005 as a Wall Street reporter for the Business and Market section. Kristi covers the stock market, financial markets and personal finance. Her awards have come from the National Federation of Professional Writers, the Ohio Newspaper Association, the Cleveland Press Club, the Society of Professional Journalists and Suburban Newspapers of America. Kristi was named SNA's national Journalist of the Year

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