Viacom Raises Dividend By 10% to 33¢ a Share

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Viacom said it increased the dividend on its Class A and Class B common stock by 10% to 33 cents a share.

Viacom, and other media companies, have been returning billions of dollars to stockholders through increased dividends and share buybacks. Those moves make stock more attractive to investors.

“As we increase investment in content and build our business worldwide, we remain committed to also returning significant capital directly to our shareholders,” Viacom CEO Philippe Dauman said in a statement. “Viacom's financial strength and ongoing operational discipline allow us to deliver on this commitment, through our ongoing share buyback and dividend program."

The new dividend will be paid on July 1 to stockholders of record at the close of business on June 13.

Jon Lafayette
Jon Lafayette

Jon has been business editor of Broadcasting+Cable since 2010. He focuses on revenue-generating activities, including advertising and distribution, as well as executive intrigue and merger and acquisition activity. Just about any story is fair game, if a dollar sign can make its way into the article. Before B+C, Jon covered the industry for TVWeek, Cable World, Electronic Media, Advertising Age and The New York Post. A native New Yorker, Jon is hiding in plain sight in the suburbs of Chicago.