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.