Viacom has announced it will award a quarterly cash dividend to stockholders in the amount of $0.40 per share, payable October 1.
The media company’s board of directors approved the dividend in late May, with CEO Philippe Dauman attributing the award to a strong balance sheet and “substantial cash flow.”
“Viacom is deeply committed to returning capital directly to our shareholders while investing in high-quality programming, expanding in the U.S. and abroad, and developing new and innovative consumer and advertising initiatives,” Dauman said at the time.
The company is in the midst of wide restructuring, writing down costs from workforce reductions and under-performing content to the tune of $785 million.