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

Paramount Global (NASDAQ:PARAA) announced a quarterly dividend on Monday, February 24th, Wall Street Journal reports. Shareholders of record on Monday, March 17th will be given a dividend of 0.05 per share on Tuesday, April 1st. This represents a $0.20 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date is Monday, March 17th.

Paramount Global has decreased its dividend by an average of 40.7% annually over the last three years. Paramount Global has a payout ratio of 12.0% meaning its dividend is sufficiently covered by earnings. Research 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 midday trading on Monday, reaching $22.72. The stock had a trading volume of 12,105 shares, compared to its average volume of 26,540. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.85. The company has a market capitalization of $15.15 billion, a price-to-earnings ratio of -2.76 and a beta of 1.62. The company’s 50-day moving average is $22.53 and its 200 day moving average is $22.41. Paramount Global has a 12-month low of $16.59 and a 12-month high of $26.34.

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.