Bonus Time for Cablevision Execs

Author:
Updated:
Original:

Cablevision Systems Corp. rewarded its five top executives for its strong financial performance in 2005, paying out nearly $13 million in bonuses, according to a filing with the Securities and Exchange Commission.

Leading the list were chairman Charles Dolan and CEO James Dolan, who each received an annual bonus of $3.49 million, according to the SEC filing.

Vice chairman Hank Ratner and chief operating officer Tom Rutledge were next, each receiving a $2.546 million bonus.

Executive vice president and chief financial officer Michael Huseby received an $873,000 bonus.

Cablevision reported that fourth-quarter revenue rose 12.5% to $1.5 billion and adjusted operating cash flow increased 49.2% to $479.7 million. For the year, revenue was up 9% to $5.2 billion (the first time the company reached that revenue milestone in its history) and adjusted operating cash flow increased 13.2% to $1.6 billion.

Related