The dividend is payable on July 1 to shareholders of record on June 9.
Earlier this week, CBS announced that it would add eight new shows to its prime-time lineup next year, including a prequel to its hit show 'The Big Bang Theory' ahead of the media company's presentation to advertisers.
Shares of CBS were higher nearly 2% during afternoon trading on Friday.
Over on Real Money Jim Cramer gives advice to investors looking at how to play the Trump Trade. Get his insights or analysis with a free trial subscription to Real Money.