Stockholders' Equity

9 Months Ended

Sep. 30, 2012

Stockholders' Equity Disclosure [Abstract]

Stockholders' Equity Disclosure

8) STOCKHOLDERS' EQUITY

During the nine months ended September 30, 2012, the Company repurchased27.0 million shares of CBS Corp. Class B Common Stock for $871 million, at an average cost of $32.26 per share, of which 8.6 million shares were repurchased in the third quarter for $300 million. Since the inception of the share repurchase program in January 2011 through September 30, 2012, the Company has repurchased 69.2 million shares of its Class B Common Stock for $1.89 billion, at an average cost of $27.31 per share, leaving $2.81 billion of authorization remaining at September 30, 2012.

On July 26, 2012, the Company announced a 20% increase in the quarterly cash dividend on its Class A and Class B Common Stock to $.12 per share from $.10 per share, payable on October 1, 2012. The totalthird quarter 2012 dividend was $78 million of which $77 million was paid on October 1, 2012 and $1 million was accrued to be paid upon vesting of RSUs. Total dividends for the nine months ended September 30, 2012 were $210 million.