Corus Entertainment Inc. (TSX: CJR.B) is a Toronto, Canada-based communications and entertainment company. The company operates through two operating segments: Television and Radio. The company’s Television segment comprises of specialty television networks, pay television services, three conventional television stations and the Corus content business. Its Radio segment consists of 37 radio stations.
Earlier today, Corus Entertainment announced that its Board of Directors declared monthly dividends of $0.094583 per Class A Share and $0.095 per Class B Share. Corus’s Class B share currently offer a yield of 9.51%, which is very attractive. In addition to an attractive yield, Corus shares have returned more than 8% so far this year.
Corus recently reported its financial results for the second quarter of its fiscal 2016. The company’s consolidated segment profit for the second quarter of fiscal 2016 was $79.6 million, representing an increase of 33% over the same period in the previous year. After one-time adjustments, Corus’s segment profit for the quarter was $65.4 million, up 10% on a year-over-year basis. The company’s net income for the quarter was $102.2 million, compared to a net loss of $86.8 million reported for the same period in the previous year.
