Comcast Plans $7 Billion Buyback

February 15, 2008

After months of being assailed by shareholders upset over a plunging stock price and slow response to competition from phone companies, Comcast Corp. yesterday answered its critics.

The cable company said it would start paying a 25-cents-a-year dividend -- its first since 1999 -- and buy back $7 billion in stock by the end of 2009, reacting to investors demanding the company return more cash to shareholders. As for demands that Comcast take on its phone and satellite rivals more aggressively, the company is adopting more competitive pricing plans for its TV, Internet and phone services and boosting spending on marketing and customer service.

For the full article in the February 15, 2008 Wall Street Journal, click here.