During the quarter, the company bought back 9.4 million shares at a price of $32 per share, aggregating $301 million. Since the commencement of the program, through June 30, 2012, CBS Corporation has bought back 60.6 million shares at a price of about $26 per share, totaling $1.59 billion. The company recently announced that its Board of Directors has agreed to enhance its share repurchase program and hike the quarterly cash dividend. The share repurchase authorization will rise by 57% to $4.7 billion from the initial program announced in January 2011. Under the new program, the company has already repurchased shares of worth $1.7 billion, with $3 billion remaining for future repurchases. The company aims to complete the new share repurchase program by the end of 2014. Additionally, the Board of Directors also approved a 20% hike in its quarterly cash dividend to 12 cents from 10 cents a share. The increased dividend will be paid on October 1, 2012 to shareholders of record as of September 10, 2012.