Time Warner Cable: Soaring Profits and Higher Dividend Lift Stock

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Time Warner Cable (TWC) rose 7% in morning trading as increased interest in its high-speed data and voice services helped offset some “cord-cutting” among residential video subscribers. Time Warner also raised its dividend and initiated a new buyback program.

Time Warner posted $1.39 of EPS after excluding one-time items, ahead of analysts’ expectations for $1.20. While the company lost 129,000 residential video subscribers, it added 154,000 high speed data and voice customers.

Time Warner also raised its quarterly dividend to 56 cents from 48 cents, and announced a new $4 billion buyback plan. The stock now yields just over 3%.



Original Article Source by Barrons.com