Lionsgate’s board has increased the company’s quarterly cash dividend from five cents to seven cents per common share.
The dividend is payable Nov. 7 to shareholders of record as of Sept. 30. The studio paid its first-ever dividend in February and CEO Jon Feltheimer announced in May that the payout would be increased annually.
The announcement comes as Lionsgate ramps up for the Nov. 21 opening of “The Hunger Games: Mockingjay – Part 1.” The first two “Hunger Games” films combined for over $1.5 billion in worldwide grosses.
“We’re pleased that our continued strong financial performance, combined with our excellent visibility, enables us to return greater value to our shareholders by increasing our quarterly dividend,” said Feltheimer and Vice Chairman Michael Burns. “This is an important part of our strategy of allocating cash towards repurchasing our stock, growing our yearly dividend and re-investing in our content portfolio.”