Cablevision Votes to Mull Issuing $3 Billion Dividend

Mar 7, 2006  •  Post A Comment

Cablevision Systems’ board has voted to mull issuing a special $3 billion dividend to shareholders, the company announced Monday in a filing with the Securities and Exchange Commission.

The dividend, which Cablevision has been mulling since January, would be paid if a number of conditions are met, including the satisfaction of all legal standards and the company’s securing of financing on terms deemed acceptable to the Cablevision board.

The board proposed the idea of the dividend after it called off plans to take its cable operation private and spin off its programming assets into a separately traded company.