Corus Entertainment Announces 6.9% Dividend Increase for Class A and Class B Shareholders

Corus Entertainment Announces 6.9% Dividend Increase for Class A and Class B Shareholders


TORONTO, Jan. 14, 2014 /PRNewswire/ - Corus Entertainment Inc. (TSX: CJR.B) announced today that its Board of Directors has approved
a $0.07 increase in its annual dividend.



At the new rate, the dividend on an annual basis for the Company's Class
A and Class B Shares is $1.085 and $1.09 respectively, up from the
previous rate of $1.015 and $1.02, respectively.



The Company's monthly dividend for holders of its Class A and Class B
Shares will increase to $0.090417 and $0.090833, respectively. The
dividend will be paid on each of February 28, 2014, March 31, 2014 and
April 30, 2014 to shareholders of record at the close of business on
February 14, 2014, March 14, 2014 and April 15, 2014, respectively.



"With our recent acquisitions of Historia, Séries+ and the remaining 50%
of TELETOON Canada Inc., we are well positioned to benefit from a
significant increase in our free cash flow," said Heather Shaw,
Executive Chair, Corus Entertainment Inc. "This 6.9% dividend increase
reflects an unwavering focus on enhancing our business and returning
cash to our shareholders, while maintaining our commitment to reducing
leverage."



The foregoing dividends are designated as "eligible" dividends for the
purpose of the Income Tax Act (Canada) and any similar provincial legislation.



Corus' Board of Directors reviews the dividend on a quarterly basis.
Shareholders are entitled to receive dividends only when any such
dividends are declared by Corus' Board of Directors and there is no
entitlement to any dividend prior thereto.



Registered shareholders who are residents of Canada and who are not
currently participating in Corus' Dividend Reinvestment Plan ("the
Plan") may elect to participate in the Plan through the completion of
an enrollment form which can be obtained from the Company's plan
administrator, CST Trust Company, on their website at www.canstockta.com or by calling 1.800.387.0825. The Plan allows eligible holders of Class
A Shares and Class B Shares to acquire additional Class B Shares
through reinvestment of the cash dividends paid on their respective
shareholdings. Non-registered beneficial shareholders who are residents
of Canada and who wish to join the Plan should consult their broker,
financial institution or other intermediary through which they hold
Class A Shares or Class B Shares.



At this time, Corus' Board of Directors confirms that the Company will
continue to issue shares from treasury at a 2% discount from the
average market price to Plan participants of record, as determined
pursuant to the terms of the Plan.



There were 3,430,292 Class A Voting Shares outstanding and 81,381,816
Class B Non-Voting Shares outstanding on December 31, 2013.



Corus Entertainment Inc. reports in Canadian dollars.


About Corus Entertainment Inc.

Corus Entertainment Inc. is a Canadian-based media and entertainment
company that creates, broadcasts and licenses content across a variety
of platforms for audiences around the world. The Company's portfolio
of multimedia offerings encompasses specialty television and radio with
additional assets in pay television, television broadcasting,
children's book publishing, children's animation and animation
software. Corus' brands include YTV, TELETOON, ABC Spark, W Network,
OWN: Oprah Winfrey Network (Canada), HBO Canada, Historia and Séries+,
as well as Nelvana, Kids Can Press, Toon Boom and 37 radio stations
including CKNW AM 980, 99.3 The FOX, Country 105, 630 CHED, Fresh FM
London, Q107 and 102.1 the Edge. A publicly traded company, Corus is
listed on the Toronto Stock Exchange (CJR.B). Experience Corus on the
web at www.corusent.com.


SOURCE Corus Entertainment Inc.

Corus Entertainment Inc.

CONTACT: John Cassaday 
President and Chief Executive Officer 
Corus Entertainment Inc. 
416.479.6018

Tom Peddie, FCPA, FCA 
Executive Vice President and Chief Financial Officer 
Corus Entertainment Inc. 
416.479.6080

Sally Tindal
Director, Communications
Corus Entertainment Inc.
416.479.6107


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