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

TORONTO, June 29, 2023 /PRNewswire/ - Corus Entertainment Inc. (TSX: CJR.B) announced today that its Board of Directors has declared quarterly dividends of $0.03 per Class B non-voting participating share ("Class B Non-Voting Shares") and $0.02875 per Class A participating share ("Class A Voting Shares") payable on August 15, 2023, to shareholders of record at the close of business on July 31, 2023.

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, TSX Trust Company, on their website at https://tsxtrust.com/ or by calling 1.800.387.0825. The Plan allows eligible holders of Class A Voting Shares and Class B Non-Voting Shares to acquire additional Class B Non-Voting 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 Voting Shares or Class B Non-Voting Shares.

Corus' Board of Directors confirms that the Company will distribute shares purchased on the open market at no discount from the average market price to the Plan participants of record, as determined pursuant to the terms of the Plan.

There were 3,371,526 Class A Voting Shares and 196,068,632 Class B Non-Voting Shares outstanding on May 31, 2023.

Corus Entertainment Inc. reports in Canadian dollars.

Corus Entertainment Inc. (TSX: CJR.B) is a leading media and content company that develops and delivers high quality brands and content across platforms for audiences around the world. Engaging audiences since 1999, the company's portfolio of multimedia offerings encompass 33 specialty television services, 39 radio stations, 15 conventional television stations, digital and streaming services, animation software, technology and media services. Corus is an internationally-renowned content creator and distributor through Nelvana, a world class animation studio expert in all formats and Corus Studios, a globally recognized producer of hit scripted and unscripted content. The company also owns full-service social digital agency so.da, lifestyle entertainment company Kin Canada, leading 2D animation software supplier Toon Boom and children's book publishing house, Kids Can Press. Corus' roster of premium brands includes Global Television, W Network, HGTV Canada, Food Network Canada, Magnolia Network Canada, The HISTORY® Channel, Showcase, Adult Swim, National Geographic, Disney Channel Canada, YTV, Global News, Globalnews.ca, Q107, Country 105, and CFOX, along with streaming platforms STACKTV, TELETOON+, the Global TV App and Curiouscast. Corus is the domestic advertising representative and an original content partner for Pluto TV, a Paramount Company, which is the leading free ad-supported streaming television (FAST) service. For more information visit www.corusent.com.

SOURCE Corus Entertainment Inc.