Cablevision caves in to investors, to pay dividend
Monday, 18 August 2008
NEW YORK, Aug 17 (Reuters): Cablevision Systems Corporation appeared to bow to pressure from investors when it said Friday that its board had agreed to initiate a regular quarterly dividend.
The decision follows meetings earlier last week between Cablevision Chief Executive Jim Dolan and major stakeholders led by Mario Gabelli of Gamco Investors Inc, who have been pressuring the cable operator to make moves to boost the share price, including setting a dividend or buying back stock.
The decision follows meetings earlier last week between Cablevision Chief Executive Jim Dolan and major stakeholders led by Mario Gabelli of Gamco Investors Inc, who have been pressuring the cable operator to make moves to boost the share price, including setting a dividend or buying back stock.