Jim Trippon, CPA

Comcast (Nasdaq: CMCSA) finally announced that it has acquired a controlling interest in General Electric's (NYSE: GE) NBC Universal media business whose assets are worth, by some estimates, $30 billion.

Despite that hefty sum, Comcast won't have to shell out as much as initially expected and the cable giant has decided to reward shareholders with a 40% dividend hike, boosting its annual payout to 37.8 cents a share.

Comcast currently pays a dividend of 27 cents a share for a yield of 1.8%.

Comcast also said it expects to complete a $3.6 billion share repurchase plan over the next three years.

CEO Brian Roberts, one of the best managers in the cable business, noted that the increased dividend share buyback plan reflects the company's confidence in its business and the capacity for continued significant free cash flow generation.