UPDATE: Viacom (VIA) Halves Qtr. Dividend to 20c/Share; Yields 2%

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Go back to UPDATE: Viacom (VIA) Halves Qtr. Dividend to 20c/Share; Yields 2%

Viacom (VIAB) Interim CEO Dooley to Depart; Q4 EPS Guidance Cut; Will End Paramount Stake Sale

September 21, 2016 9:18 AM EDT

Following a comprehensive review of Viacoms (Nasdaq: VIAB)(Nasdaq: VIA) capital structure and operating budget, the Viacom Board today announced measures to improve the Company's financial flexibility and position it for future growth. Specifically, the Company is reducing its dividend payout to preserve capital and will proceed to access debt capital markets in the near term to improve liquidity. These actions are designed to balance the Companys focus on a strong balance sheet and its strategy to invest in world class content and pursue opportunities to grow... More