Exhibit 99
May 25, 2006
CBS CORPORATION INCREASES QUARTERLY DIVIDEND BY 12.5%
CBS Corporation (NYSE: CBS.A and CBS) announced today that its Board of Directors has approved a 12.5% increase in the quarterly dividend on the Company's common stock, from 16 cents to 18 cents per share. The dividend is payable on July 1, 2006 to shareholders of record as of June 5, 2006.
‘‘I’m pleased to announce the second dividend increase since we became a new Company,’’ said Leslie Moonves, President and Chief Executive Officer, CBS Corporation. ‘‘This represents a 29% increase in our quarterly dividend since the start of the year.’’
CBS Corporation (NYSE: CBS.A and CBS) is a mass media company with constituent parts that reach back to the beginnings of the broadcast industry, as well as newer businesses that operate on the leading edge of the media industry. The Company, through its many and varied operations, combines broad reach with well-positioned local businesses, all of which provide it with an extensive distribution network by which it serves audiences and advertisers in all 50 states and key international markets. It has operations in virtually every field of media and entertainment, including broadcast television (CBS and UPN), cable television (Showtime and CSTV Networks), local television (CBS Television Stations), television production and syndication (CBS Paramount Television and King World), radio (CBS Radio), advertising on out-of-home media (CBS Outdoor), publishing (Simon & Schuster), theme parks (Paramount Parks), digital media (CBS Digital Media Group and CSTV Networks) and consumer products (CBS Consumer Products). In Fall 2006, UPN will cease operations and The CW, a new fifth broadcast television network, will launch as a joint venture between CBS Corporation and Warner Bros. Entertainment. For more information, log on to www.cbscorporation.com.
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Contacts:
| | | | | | |
| Press | | Investor Relations | ||||
| Dana McClintock | | Debra King | ||||
| 212/975-1077 | | 212/975-3718 | ||||
| dlmcclintock@cbs.com | | debra.king@cbs.com | ||||
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