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

Paramount Global (NASDAQ:PARAA) announced 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 0.89%. The ex-dividend date of this dividend 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 dividend payout ratio of 14.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Paramount Global to earn $1.55 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 12.9%.

Paramount Global Price Performance

PARAA traded down 0.26 during trading on Friday, hitting 22.50. The stock had a trading volume of 55,500 shares, compared to its average volume of 94,444. Paramount Global has a twelve month low of 13.40 and a twelve month high of 26.34. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.19 and a current ratio of 1.29. The company’s 50-day moving average price is 20.38 and its 200 day moving average price is 21.12.

Wall Street Analysts Forecast Growth

Separately, Seaport Res Ptn downgraded shares of Paramount Global from a “buy” rating to a “neutral” rating in a report on Thursday, May 2nd.

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.