Sirius XM Holdings (SIRI) will start paying a $0.01 per share quarterly dividend. The dividend is payable on November 30, 2016 to stockholders of record as of the close of business on November 9, 2016. 

"Since the start of the third quarter, we spent roughly $300 million to repurchase 72 million shares of our common stock. SiriusXM's average share count declined by 8% in the third quarter 2016 from a year earlier as a result of our share repurchases. We are also pleased to announce a regular dividend as an element of our capital return program, beginning at $0.01 per share per quarter", according to David Frear, Chief Financial Officer of Sirius XM Holdings in today's press release.

The satellite radio provider will have 1% dividend yield based on the current stock price of $4.11.

Sirius XM Holdings Inc. transmits music, sports, entertainment, comedy, talk, news, traffic and weather channels, as well as infotainment services, in the United States on a subscription fee basis through its two satellite radio systems. The company also provides connected vehicles services, giving customers access to a suite of safety, security, and convenience services including automatic crash notification, stolen vehicle recovery assistance, enhanced roadside assistance and turn-by-turn navigation.