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Corus Entertainment Announces 6.25% Dividend Increase for Class A and Class B Shareholders



Corus Entertainment Announces 6.25% Dividend Increase for Class A and Class B
                                 Shareholders

PR Newswire

TORONTO, Jan. 14, 2013

TORONTO, Jan. 14, 2013  /PRNewswire/ - Corus  Entertainment Inc. (TSX:  CJR.B) 
announced today that its Board of  Directors has approved a $0.06 increase  in 
its annual dividend.

At the new rate, the dividend on an annual basis for the Company's Class A and
Class B Shares is $1.015 and $1.02 respectively, up from the previous rate  of 
$0.955 and $0.96, respectively.

The Company's monthly dividend for holders of  its Class A and Class B  Shares 
will increase to $0.084583 and $0.085, respectively. The dividend will be paid
on each  of  February  28,  2013,  March  28,  2013  and  April  30,  2013  to 
shareholders of record at  the close of business  on February 14, 2013,  March 
14, 2013 and April 15, 2013, respectively.

"The strength  of our  balance sheet  and free  cash flow  has again  set  the 
foundation for  an increase  in our  annual dividend  for fiscal  2013,"  said 
Heather Shaw, Executive Chair, Corus  Entertainment Inc. "This 6.25%  increase 
reflects strong operational execution across all of our business segments  and 
our continued commitment to returning cash to our shareholders."

The foregoing dividends are designated as "eligible" dividends for the purpose
of the Income Tax Act (Canada) and any similar provincial legislation.

Corus'  Board  of  Directors  reviews  the  dividend  on  a  quarterly  basis. 
Shareholders are entitled to  receive dividends only  when any such  dividends 
are declared by Corus' Board of Directors  and there is no entitlement to  any 
dividend prior thereto.

Registered shareholders who are residents of Canada and who are not  currently 
participating in Corus' Dividend Reinvestment  Plan ("the Plan") may elect  to 
participate in the Plan through the completion of an enrollment form which can
be obtained from the Company's  plan administrator, CIBC Mellon Trust  Company 
c/o  Canadian   Stock   Transfer   Company   Inc.,   on   their   website   at 
www.canstockta.com or  by calling  1.800.387.0825.  The Plan  allows  eligible 
holders of Class A  Shares and Class  B Shares to  acquire additional Class  B 
Shares through reinvestment  of the  cash dividends paid  on their  respective 
shareholdings. Non-registered  beneficial shareholders  who are  residents  of 
Canada and who wish  to join the Plan  should consult their broker,  financial 
institution or other intermediary  through which they hold  Class A Shares  or 
Class B Shares.

At this  time,  Corus' Board  of  Directors  confirms that  the  Company  will 
continue to  issue shares  from treasury  at a  2% discount  from the  average 
market price to  Plan participants of  record, as determined  pursuant to  the 
terms of the Plan.

There were 3,432,292 Class A Voting Shares outstanding and 80,262,664 Class  B 
Non-Voting Shares outstanding on December 31, 2012.

Corus Entertainment Inc. reports in Canadian dollars.

About Corus Entertainment Inc.

Corus Entertainment Inc. is a Canadian-based media and entertainment company. 
Corus is a  market leader in  specialty television and  radio with  additional 
assets in pay television, television broadcasting, children's book publishing,
children's  animation  and  animation  software.   The  Company's   multimedia 
entertainment brands include YTV, Treehouse, Nickelodeon (Canada), ABC  Spark, 
W Network,  OWN: Oprah  Winfrey Network  (Canada), CosmoTV,  Sundance  Channel 
(Canada), Movie Central, HBO Canada, Nelvana, Kids Can Press, Toon Boom and 37
radio stations including  CKNW AM 980,  99.3 The FOX,  Country 105, 630  CHED, 
Q107, and  102.1  the  Edge.  Corus  creates  engaging  branded  entertainment 
experiences for its  audiences across multiple  platforms.  A publicly  traded 
company, Corus is listed  on the Toronto  Stock Exchange (CJR.B).   Experience 
Corus on the web at www.corusent.com.

   

 

 

SOURCE Corus Entertainment Inc.

Contact:

John Cassaday 
President and Chief Executive Officer 
Corus Entertainment Inc. 
416.479.6018 

Tom Peddie, FCA 
Executive Vice President and Chief 
Financial Officer 
Corus Entertainment Inc. 
416.479.6080 

Sally Tindal
Director, Communications
Corus Entertainment Inc.
416.479.6107
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