CBS Corporation Increases Quarterly Dividend by 8%

CBS Corporation Increases Quarterly Dividend by 8%

NEW YORK, April 29 /PRNewswire-FirstCall/ -- CBS Corporation (NYSE:CBS)(NYSE:and)(NYSE:CBS.A) announced today that its Board of Directors has authorized an increase in the quarterly dividend of 8% from 25 to 27 cents per share. The dividend is payable on July 1, 2008 to stockholders of record as of June 3, 2008.

About CBS Corporation

CBS Corporation 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 The CW -- a joint venture between CBS Corporation and Warner Bros. Entertainment), cable television (Showtime and CBS College Sports Network), local television (CBS Television Stations), television production and syndication (CBS Paramount Network Television and CBS Television Distribution), radio (CBS Radio), advertising on out-of-home media (CBS Outdoor), publishing (Simon & Schuster), interactive media (CBS Interactive), music (CBS Records), licensing and merchandising (CBS Consumer Products), video/DVD (CBS Home Entertainment), in-store media (CBS Outernet) and motion pictures (CBS Films). For more information, log on to www.cbscorporation.com .

First Call Analyst:
FCMN Contact: KJorgensen@cbs.com

Source: CBS Corporation

CONTACT: Dana McClintock of CBS Corporation, +1-212-975-1077,
dlmcclintock@cbs.com

Web site:

http://www.cbscorporation.com/

Company News On-Call:

http://www.prnewswire.com/comp/185007.html

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