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Viacom has increased its shareholder dividend to 27.5 cents, up 10 percent. The increase takes place starting with Viacom's next quarterly dividend, payable July 2.
The media conglomerate has driven up the share price in recent months as its stock buy-back program continues apace. Viacom CEO Philippe Dauman said in a statement that "consistently strong cash flows and a solid balance sheet" contributed to the decision to bump up the dividend; part of that may have to do with the company's resolution of an ongoing dispute with New York-based cable giant Time Warner Cable.
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