Belo Boosts Dividend 25 Percent

Posted Tuesday, May 9, 2006 12:00 am

By: Media company Belo Corp. said Tuesday it will boost its dividend by 25 percent and pull back on capital investment.

Company Chairman, President and Chief Executive Robert Decherd said the moves are necessary to battle "the current negative perception of our traditional sectors." The company owns newspapers and television stations across the country.

The annual dividend will be 50 cents, up from 40 cents. The increase will be effective in the third quarter.

The company will reduce its annual capital spending target to $75 million in 2007 through 2009, down from $120 million.

Shares of Belo fell 17 cents to $17.98 in afternoon trading on the New York Stock Exchange.

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Belo Boosts Dividend 25 Percent

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