CBS Corporation declared a 15-cent quarterly dividend on Tuesday.
The payout is set for Jan. 1, 2016, to shareholders of record on as of Dec. 11, 2015. The company’s Board of Directors approved the quarterly dividend.
In the recent third quarter of 2015, CBS bested Wall Street’s earnings expectations, despite dropping year over year in revenue.
At the time, CBS president and CEO Leslie Moonves (pictured above) touted the network’s gains in advertising revenue, given that it had sold less inventory during upfronts.
“Add to that CBS’s broadcast of Super Bowl 50 in February and the upcoming presidential election, you can see why we feel very good about advertising in 2016,” Moonves said.
“Thanks to the strength of our great content, CBS continues to have a winning hand,” said Sumner Redstone, executive chairman of CBS Corporation. “Les and his team are capitalizing on all of the opportunities before us, and I’m confident they are setting the company up for continued, long-term growth.”