CBS Corp. said its board of directors approved a 20% increase in the dividend it pays on its common stock.
The new dividend is 18 cents a share, up from 15 cents a share previously.
The CBS board also voted to increase the amount of money available to repurchase CBS shares to $6 billion. Previously the company had $1 billion remaining in its authorization.
CBS is scheduled to release its second-quarter earnings report Thursday after the close of trading.