Scripps Networks Interactive plans to spend $1 billion to repurchase its own share.
The lifestyle programmer is also raising its dividend by 15%, to 23 cents psr share to holders of record on March 2.
.Before the new $1 billion stock buyback program was authorized, Scripps had $448 million remaining on its previous repurchase plan.
Last quarter, the company announced a restructuring and reduced its workforce by 5% to be more efficient in its mission of creating lifestyle content. .