CBS Corp. on Thursday announced measures to send cash back to shareholders, saying it will raise its quarterly dividend and boost its stock buyback.

The company said it would increase its dividend 20% to 18 cents from 15 cents a share.

CBS also said the board voted to increase its share repurchase program to $6 billion. That is a quarter of the company's market cap and replaces the previous program, which had $1 billion remaining as of the end of June.

Shares in the company, inactive premarket, are up 15% this year.

Write to Anne Steele at Anne.Steele@wsj.com

 

(END) Dow Jones Newswires

July 28, 2016 09:55 ET (13:55 GMT)

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