Ikrimah (may Allah have mercy on him) says that a poet came to the Prophet (peace and blessings be upon him), and he (peace and blessings be upon him) said to Sayyiduna Bilal (may Allah be pleased with him): "Silence his tongue from me." So he gave him 40 dirhams and a garment (hullah). The poet said: By Allah, my tongue has been silenced! By Allah, my tongue has been silenced!
This is munqati' (its chain is broken). It was also narrated through Muhammad bin Muslim from Umar, and with a connected chain mentioning Ibn Abbas, but that is not mahfuz (preserved).
Hadith Referenceالسنن الكبرى للبيهقي / كتاب الشهادات / 21130
Nujayd bin Imran bin Husayn (may Allah have mercy on him) narrates from his father, Sayyiduna Imran bin Husayn (may Allah be pleased with him), that he gave a gift to a poet. It was said to him: O Abu Nujayd! Do you give gifts to poets? He said: I am only paying a ransom for my honour.
Hadith Referenceالسنن الكبرى للبيهقي / كتاب الشهادات / 21131
Sayyiduna Jabir (may Allah be pleased with him) said that the Messenger of Allah (peace and blessings be upon him) said: "Every good deed is charity. Whatever a person spends on himself and on his family is written for him as charity, and whatever he protects his honour with is also charity. And whatever he spends, Allah Almighty gives him a better replacement for it, except what is used on buildings and on acts of disobedience." The narrator said that Muhammad bin al-Munkadir (may Allah have mercy on him) was asked: What is meant by protecting one's honour? He said: "Giving to poets and to people with sharp tongues."
Hadith Referenceالسنن الكبرى للبيهقي / كتاب الشهادات / 21132
Muhammad bin al-Munkadir (may Allah have mercy on him) narrates the same from Sayyiduna Jabir (may Allah be pleased with him) as a marfu' report. Muhammad (may Allah have mercy on him) said: We said to Sayyiduna Jabir (may Allah be pleased with him): What is meant by a man protecting his honour? He said: Giving to the poet and to people with sharp tongues; as though he were saying: so that their tongues are held back.
This hadith is known only through these two (al-Hilali and Miswar), and neither of them is strong.
Hadith Referenceالسنن الكبرى للبيهقي / كتاب الشهادات / 21133