Time Warner, owner of the Warner Bros. studio and the HBO cable channel, increased its dividend and stock-repurchase program after fourth-quarter earnings swung to a profit on film-revenue growth.

Chief Executive Jeff Bewkes also completed the spinoff of AOL in December, shedding the Internet unit that had been a drag on profit since the companies’ 2001 merger.

Warner Bros.’ “The Blind Side,” the Sherlock Holmes movie and the DVD release of “Harry Potter and the Half-Blood Prince” helped drive earnings and counter declining magazine advertising sales.

Net income of $627 million, or 53 cents a share, compared with a loss of $16 billion, or $13.41, a year earlier, the Manhattan-based company said.

The firm raised its quarterly dividend to 21.25 cents a share from 18.75 cents, and boosted its share buyback by $2 billion.

Shares fell 61 cents, or 2.1 percent, to $27.90.