Time Warner Inc. (TWX) posted adjusted fourth quarter earnings of $0.67 per share on $7.81 in revenue this morning, topping estimates. The company also gave shareholders a double-digit raise for the second straight year.
Analysts were expecting a profit of $0.62 per share on sales of $7.48 billion, on average.
In a separate release, Time Warner said it expects earnings to grow by a “low teens” percentage in 2011. Analysts currently project earnings of $2.63, which would be an improvement of just 9.1% over the company’s 2010 adjusted EPS figure.
The company also increased its quarterly dividend to $0.235 per share, a 10.6% improvement over the $0.2125 per share paid each of the last four quarters. Last year the media giant boosted its payout by 13%, and has now increased its rate four times since it began returning cash to shareholders in 2005.
Shares of TWX rose to $33.35 (+3.22%) in pre-market trading, where they now carry a 2.82% dividend yield.