By: E&P Staff
The Tribune Co. announced today that it will increase its quarterly dividend 50%, from $.12 to $.18 per share, payable on March 10 to shareholders of record on Feb. 24.
“Tribune will generate more than $800 million in free cash flow in 2005,” said Dennis FitzSimons, Tribune chairman, president ,and chief executive officer, in a statement. The company has $600 million remaining on its current authorization for share repurchase, according to a statement.
In addition to voting for the increased dividend, Tribune’s board of directors also promoted Thomas Leach to senior vice president/development and appointed Harry Amsden to vice president/corporate compliance and risk management.