Corus Entertainment Declares Monthly Dividend for Class A and Class B Shareholders

TORONTO, Oct. 23, 2014 /CNW/ - Corus Entertainment Inc. (TSX: CJR.B) announced today that its Board of Directors has declared monthly dividends of $0.090417 per Class A Share and $0.090833 per Class B Share payable on each of November 28, 2014, December 30, 2014 and January 30, 2015 to shareholders of record at the close of business on November 14, 2014, December 15, 2014 and January 15, 2015, respectively.

The foregoing dividends are designated as "eligible" dividends for the purpose of the Income Tax Act (Canada) and any similar provincial legislation.

Corus' Board of Directors reviews the dividend on a quarterly basis. Shareholders are entitled to receive dividends only when any such dividends are declared by Corus' Board of Directors and there is no entitlement to any dividend prior thereto.

Registered shareholders who are residents of Canada and who are not currently participating in Corus' Dividend Reinvestment Plan ("the Plan") may elect to participate in the Plan through the completion of an enrollment form which can be obtained from the Company's plan administrator, CST Trust Company, on their website at www.canstockta.com or by calling 1.800.387.0825. The Plan allows eligible holders of Class A Shares and Class B Shares to acquire additional Class B Shares through reinvestment of the cash dividends paid on their respective shareholdings. Non-registered beneficial shareholders who are residents of Canada and who wish to join the Plan should consult their broker, financial institution or other intermediary through which they hold Class A Shares or Class B Shares.

At this time, Corus' Board of Directors confirms that the Company will continue to issue shares from treasury at a 2% discount from the average market price to Plan participants of record, as determined pursuant to the terms of the Plan.

There were 3,428,292 Class A Voting Shares and 82,478,905 Class B Non-Voting Shares outstanding on September 30, 2014.

Corus Entertainment Inc. reports in Canadian dollars.

About Corus Entertainment Inc.
Corus Entertainment Inc. is a Canadian-based media and entertainment company that creates, broadcasts and licenses content across a variety of platforms for audiences around the world. The Company's portfolio of multimedia offerings encompasses specialty television and radio with additional assets in pay television, television broadcasting, children's book publishing, children's animation and animation software. Corus' brands include YTV, TELETOON, ABC Spark, W Network, OWN: Oprah Winfrey Network (Canada), HBO Canada, Historia and Séries+, as well as Nelvana, Kids Can Press, Toon Boom and 39 radio stations including CKNW AM 980, 99.3 The FOX, Country 105, 630 CHED, Fresh FM London, JUMP! 106.9, Q107 and 102.1 the Edge. A publicly traded company, Corus is listed on the Toronto Stock Exchange (CJR.B). Experience Corus on the web at corusent.com.

SOURCE Corus Entertainment Inc.