Satellite radio operator Sirius XM (NASDAQ: SIRI) has a generous dividend policy. The company started sending out quarterly dividend payments in November 2016 and has raised the payout in each November announcement since then.

Today, the forward dividend yield is 3.5%. The digital media icon has never been a member of the S&P 500 (SNPINDEX: ^GSPC) index, but if it were, its yield would rank in the top 17% of its components.

But Sirius shares are trading at multi-year lows right now. The rich dividend yield springs from low share prices rather than lavish payout checks. Is the company headed toward a cash-saving dividend cut?

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Source Fool.com