DIVIDENDS

During the three months ended March 31, 2016, Cablevision paid $4,066 related to restricted shares that vested during the period in respect of dividends declared and accrued on the CNYG common stock in prior periods. In addition, as of March 31, 2016, approximately $3,773 was payable when, and if, restricted shares and restricted stock units outstanding on that date vest.

Pursuant to the terms of the Merger Agreement, Cablevision is not permitted to declare and pay dividends or repurchase stock, in each case, without the prior written consent of Altice. In accordance with these terms, Cablevision did not declare or pay dividends during the three months ended March 31, 2016.

During the three months ended March 31, 2016, CSC Holdings made cash equity distribution payments to Cablevision aggregating $101,878. These distribution payments were funded from cash on hand. The proceeds were used to fund:


•	Cablevision's payments in respect of dividends declared and accrued in prior periods related to restricted shares that vested;


•	Cablevision's interest payments on its senior notes; and


•	Cablevision's payments for the acquisition of treasury shares related to statutory minimum tax withholding obligations upon the vesting of certain restricted shares.

Cablevision's and CSC Holdings' indentures and CSC Holdings' credit agreement restrict the amount of dividends and distributions in respect of any equity interest that can be made.