How Comcast Was Able to Raise Its Dividend 9% After a Terrible 2020
Suffice it to say 2020 wasn't great for media companies -- Comcast (NASDAQ: CMCSA) included -- and the media and communications giant still isn't out of the woods. Nevertheless, the company ended the year on a high note by rewarding shareholders with a 9% dividend hike. It may be far from perfect, but this is a well-managed business with a long track record of making investors money.
On a consolidated basis, Comcast's revenue and adjusted EBITDA (earnings before interest, tax, depreciation, and amortization) fell 2.4% and 14.8%, respectively, during the fourth quarter of 2020. The culprit was primarily weakness at NBC Universal, as has been the case throughout the pandemic, as Universal Studios theme parks remain closed or restricted and theatrical movie releases are on standby.
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Source Fool.com
