Updated from 6:23 p.m. EST
said in a regulatory filing Monday that it's working toward paying a $3 billion special dividend, including seeking necessary financing and board approval.
The company disclosed in a Form 8-K that it would take steps to implement the payout, which also include satisfying applicable legal standards and establishing date-of-record and pay dates.
Speculation had grown in the past couple of weeks that Cablevision would revive a dividend plan dropped in December after the company
announced it had nailed down a big credit line.
The failure of the earlier special dividend plan -- after revelations that it was in violation of loan covenants related to an earlier credit line -- hammered Cablevision shares two months ago.
Shares of Cablevision closed up 25 cents, or 0.9%, to $26.75.
After hours, the stock rose 95 cents, or 3.6%, to $27.70.