Fox board authorizes buyback, dividend increase
LOS ANGELES Aug 8 (Reuters) - The board of Rupert Murdoch's Twenty-First Century Fox Inc, the film and TV company recently separated from News Corp, authorized a $4 billion share buyback over the next 12 months and a dividend increase, Chief Operating Officer Chase Carey said on Thursday.
The board approved an increase in the annual dividend to 25 cents a share from 17 cents "on a prospective basis," Carey said at a meeting for investors.
The company set a target of "$9 billion-plus" in earnings before interest, taxes, depreciation and amortization for fiscal 2016, Carey said.
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