New Dividend: 27.5 cents quarterly (per share) Dividend Percent Increase: 10% Current Yield: 2.32% Viacom ( VIA.B) announced a 10% hike to its dividend payout last Wednesday, ratcheting its quarterly dividend to 27.5 cents per share -- the first dividend hike the for the firm after initiating a dividend payout this year. Viacom owns a portfolio of cable networks that includes MTV, Comedy Central and Nickelodeon as well as Paramount, a motion picture studio with a massive vault of film properties. That positioning is important -- it gives Viacom unfettered access to lucrative younger audiences and cross-promotional opportunities between different units to market films and expand franchises from the small to big screens. Investors shouldn't overlook Viacom's intellectual property either; content licensing deals could eventually be a much bigger source of revenues for the firm. Solid income-generation abilities and a reasonably cheap price make this stock a solid portfolio addition, even if it's not the highest yielder. Viacom shows up on lists of 12 Highest-Rated Consumer Stocks Picked by S&P and 6 Stocks to Play if the Market Tanks.