Outfront Media (OUT) said Tuesday its board approved a special dividend of $0.75 per common share, payable Dec. 31 to shareholders of record Nov. 15.

About $0.30 per share and $0.45 per share of the special dividend will be paid in cash and in shares of common stock, respectively, the company said.

The company said its board also approved a reverse stock split, expected to be completed in January.

Outfront shares were down 1.7% in recent trading.

Price: 17.73, Change: -0.32, Percent Change: -1.77