Skip to main content

The Corus headquarters stands on Queens Quay in Toronto on June 22, 2018.

Tijana Martin/The Canadian Press

Corus Entertainment Inc. is delaying its decision on whether to pay a quarterly dividend in June as it gauges the impact of the COVID-19 pandemic.

It says the latest a decision could be made is June 9, by which time it expects to have more clarity on the nature and length of the impact of the pandemic.

Corus, which owns television and radio stations across the country, including Global Television, did decide to stop buying back shares under its share buyback program in the immediate term in a move to conserve its cash.

Story continues below advertisement

The company announced the moves as it reported a second-quarter profit attributable to shareholders of $18.5 million or nine cents per diluted share, up from $6.3 million or three cents per diluted share in the same quarter a year earlier.

Revenue for the quarter ended Feb. 29 totalled nearly $376 million, down from $384 million in the same quarter a year ago.

On an adjusted basis, Corus says it earned a profit attributable to shareholders of $25.9 million or 12 cents per share, up from $15.7 million or seven cents per share in the same quarter last year.

Your time is valuable. Have the Top Business Headlines newsletter conveniently delivered to your inbox in the morning or evening. Sign up today.

Coronavirus information
Coronavirus information
The Zero Canada Project provides resources to help you manage your health, your finances and your family life as Canada reopens.
Visit the hub
Report an error
Tickers mentioned in this story
Due to technical reasons, we have temporarily removed commenting from our articles. We hope to have this fixed soon. Thank you for your patience. If you are looking to give feedback on our new site, please send it along to feedback@globeandmail.com. If you want to write a letter to the editor, please forward to letters@globeandmail.com.

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Click here to subscribe.

If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. Readers can also interact with The Globe on Facebook and Twitter .

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Click here to subscribe.

If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. Readers can also interact with The Globe on Facebook and Twitter .

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff.

We aim to create a safe and valuable space for discussion and debate. That means:

  • Treat others as you wish to be treated
  • Criticize ideas, not people
  • Stay on topic
  • Avoid the use of toxic and offensive language
  • Flag bad behaviour

Comments that violate our community guidelines will be removed.

Read our community guidelines here

Discussion loading ...

To view this site properly, enable cookies in your browser. Read our privacy policy to learn more.
How to enable cookies