Stockholders' Equity

3 Months Ended

Mar. 31, 2012

Stockholders' Equity Disclosure [Abstract]

Stockholders' Equity Disclosure

8) STOCKHOLDERS' EQUITY

During the first quarter of 2012, the Company repurchased 9.0 million shares of CBS Corp. Class B Common Stock for $269 million, at an average cost of $30.03 per share. Since the inception of the share repurchase program in January of 2011, the Company has repurchased 51.2 million shares for $1.29 billion, at an average cost of $25.17 per share, leaving $1.71 billion of authorization remaining at March 31, 2012.

During the first quarter of 2012, the Company declared a quarterly cash dividend of $.10 per share on its Class A and Class B Common Stock payable on April 1, 2012. The total dividend was $66 million of which $65 million was paid on April 1, 2012 and $1 million was accrued to be paid upon vesting of RSUs. During the first quarter of 2012, the Company paid $69 million for the dividend declared during the fourth quarter of 2011 and for dividend payments on RSUs that vested during the first quarter of 2012.