Investment Thesis
Corus Entertainment (CJREF) (TSX:CJR.B) reduced its dividend by nearly 80%. The company's TV advertising revenue continues to decline year over year. This trend will likely continue as more and more consumers move away from watching traditional television. The company's shares have slid about 80% in the past year. As a result, the valuation is now very attractive. Even after the dividend reduction, investors can still earn a 6.5% yield.
Corus Entertainment cut its dividend by almost 80%
In its latest conference call, Corus announced that it would reduce its dividend by nearly 80%.