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

Paramount Global (NASDAQ:PARAA - Get Free Report) declared a quarterly dividend on Wednesday, June 4th, Wall Street Journal reports. Stockholders of record on Monday, June 16th will be paid a dividend of 0.05 per share on Tuesday, July 1st. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date of this dividend is Monday, June 16th.

Paramount Global has decreased its dividend by an average of 40.7% annually over the last three years and has increased its dividend annually for the last 1 consecutive years. Paramount Global has a dividend payout ratio of 14.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect Paramount Global to earn $3.48 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 5.7%.

Paramount Global Price Performance

Shares of PARAA traded up $0.02 during mid-day trading on Friday, reaching $22.47. The company had a trading volume of 23,558 shares, compared to its average volume of 44,381. Paramount Global has a twelve month low of $16.59 and a twelve month high of $24.50. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.27 and a quick ratio of 1.10. The company's 50-day moving average is $22.57 and its 200-day moving average is $22.63. The company has a market capitalization of $15.15 billion, a P/E ratio of -2.73 and a beta of 1.39.

Paramount Global (NASDAQ:PARAA - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $0.29 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.39 by ($0.10). Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. The company had revenue of $7.19 billion during the quarter, compared to analyst estimates of $7.14 billion. On average, equities analysts anticipate that Paramount Global will post 2.25 EPS for the current 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.