KNOXVILLE, Tenn.--(BUSINESS WIRE)--Jul. 31, 2012-- Scripps Networks Interactive Inc.'s (NYSE: SNI) board of directors has authorized an additional $1 billion for its share repurchase program.
The prior $1 billion share repurchase authorization was completed during the second quarter of 2012.
The company's board of directors also has declared a quarterly dividend of 12 cents ($0.12) per share. The dividend will be payable on Sept. 10, 2012, to shareholders of record at the close of business on Aug. 31, 2012.
"These actions today demonstrate our commitment to return value to our shareholders and our confidence in the business to deliver long-term growth and consistent cash flow," said Kenneth W. Lowe, chairman, president and chief executive officer for Scripps Networks Interactive.
About Scripps Networks Interactive
Scripps Networks Interactive is one of the leading developers of lifestyle-oriented content for television and the Internet, where on-air programming is complemented with online video, social media areas and e-commerce components on companion websites and broadband vertical channels. The company's media portfolio includes popular lifestyle television and Internet brands HGTV, Food Network, Travel Channel, DIY Network, Cooking Channel and country music network Great American Country.
Source: Scripps Networks Interactive Inc.
Scripps Networks Interactive Inc.
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