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

Paramount Global (NASDAQ:PARAA) declared a quarterly dividend on Wednesday, September 25th, Zacks reports. Investors of record on Monday, December 16th will be given a dividend of 0.05 per share on Thursday, January 2nd. This represents a $0.20 annualized dividend and a yield of 0.92%. The ex-dividend date is Monday, December 16th.

Paramount Global has decreased its dividend by an average of 25.9% annually over the last three years. Paramount Global has a payout ratio of 12.9% indicating that its dividend is sufficiently covered by earnings. 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

Shares of PARAA stock opened at $21.79 on Friday. Paramount Global has a twelve month low of $13.40 and a twelve month high of $26.34. The company has a market capitalization of $14.22 billion, a PE ratio of -145.27 and a beta of 1.66. The company has a current ratio of 1.30, a quick ratio of 1.15 and a debt-to-equity ratio of 0.85. The firm has a fifty day simple moving average of $22.44 and a 200-day simple moving average of $21.61.

Paramount Global (NASDAQ:PARAA) last announced its earnings results on Thursday, August 8th. The company reported $0.54 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate 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.