Paramount Global Announces Quarterly Dividend of $0.05 (NASDAQ:PARAA)

Paramount Global (NASDAQ:PARAA) declared a quarterly dividend on Thursday, August 1st, Zacks reports. Shareholders of record on Monday, September 16th will be given a dividend of 0.05 per share on Tuesday, October 1st. This represents a $0.20 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date of this dividend is Monday, September 16th.

Paramount Global has decreased its dividend payment by an average of 25.9% annually over the last three years. Paramount Global has a payout ratio of 13.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Paramount Global to earn $2.48 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 8.1%.

Paramount Global Price Performance

PARAA stock opened at $21.96 on Friday. Paramount Global has a 1 year low of $13.40 and a 1 year high of $26.34. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.30 and a quick ratio of 1.15. The firm has a market capitalization of $14.64 billion, a PE ratio of -146.39 and a beta of 1.66. The business has a 50 day simple moving average of $22.37 and a 200-day simple moving average of $21.53.

Paramount Global (NASDAQ:PARAA) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.36. Paramount Global had a positive return on equity of 4.88% and a negative net margin of 17.62%. The company had revenue of $6.81 billion for the quarter, compared to analyst estimates of $7.55 billion. Equities research analysts anticipate that Paramount Global will post 1.91 earnings per share for the current fiscal year.

Paramount Global Company Profile

Paramount Global operates as a media, streaming, and entertainment company worldwide. It operates through TV Media, Direct-to-Consumer, and Filmed Entertainment segments. The TV Media segment operates CBS Television Network, a domestic broadcast television network; CBS Stations, a television station; and international free-to-air networks comprising Network 10, Channel 5, Telefe, and Chilevisión; domestic premium and basic cable networks, such as Paramount+ with Showtime, MTV, Comedy Central, Paramount Network, The Smithsonian Channel, Nickelodeon, BET Media Group, and CBS Sports Network; and international extensions of these brands.