Paramount Global (PARAA) to Issue Quarterly Dividend of $0.05 on October 1st

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

Paramount Global has decreased its dividend by an average of 25.9% per year over the last three years. Paramount Global has a payout ratio of 13.0% indicating that its dividend is sufficiently covered by earnings. 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 Stock Performance

Shares of PARAA stock opened at $21.96 on Friday. The company has a current ratio of 1.30, a quick ratio of 1.15 and a debt-to-equity ratio of 0.85. Paramount Global has a 12-month low of $13.40 and a 12-month high of $26.34. The business’s 50 day moving average is $22.37 and its two-hundred day moving average is $21.53. The company has a market capitalization of $14.64 billion, a P/E ratio of -146.39 and a beta of 1.66.

Paramount Global (NASDAQ:PARAA) last announced its earnings results on Thursday, August 8th. The company reported $0.54 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $6.81 billion for the quarter, compared to analyst estimates of $7.55 billion. Analysts expect that Paramount Global will post 1.91 EPS for the current fiscal year.

About Paramount Global

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.