Comcast Raises Dividend by 6.9%, Sets $15 Billion Buyback
25 January 2024 - 11:30PM
Dow Jones News
By Colin Kellaher
Comcast's board has raised the cable giant's quarterly dividend
by 6.9%, to 31 cents from 29 cents, and approved a new $15 billion
share-repurchase program.
The new payout, equal to $1.24 a year, represents an annual
yield of about 2.83% based on Wednesday's closing price of $43.80,
up from 2.65%.
Comcast said the increased dividend is payable April 24 to
shareholders of record April 3.
Comcast said the new buyback program has no expiration date.
The Philadelphia company paid dividends totaling $1.2 billion
and bought back 81.9 million shares for $3.5 billion during 2023,
resulting in a total return of capital to shareholders of $4.7
billion, and currently sports a market capitalization of nearly
$177 billion.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
January 25, 2024 07:15 ET (12:15 GMT)
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