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

Paramount Global (NASDAQ:PARAAGet Free Report) declared a quarterly dividend on Wednesday, April 10th, Zacks reports. Investors of record on Monday, June 17th will be paid a dividend of 0.05 per share on Monday, July 1st. This represents a $0.20 annualized dividend and a yield of 0.87%. The ex-dividend date of this dividend is Monday, June 17th.

Paramount Global has a payout ratio of 15.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Paramount Global to earn $2.63 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 7.6%.

Paramount Global Trading Up 1.1 %

Shares of NASDAQ:PARAA opened at 23.12 on Friday. The business’s 50-day moving average is 21.66 and its 200 day moving average is 19.04. Paramount Global has a 1 year low of 13.40 and a 1 year high of 27.23. The firm has a market capitalization of $15.09 billion, a P/E ratio of -22.67 and a beta of 1.67. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.32 and a quick ratio of 1.17.

Paramount Global (NASDAQ:PARAAGet Free Report) last announced its quarterly earnings data on Wednesday, February 28th. The company reported 0.04 earnings per share for the quarter, missing analysts’ consensus estimates of 0.08 by -0.04. The firm had revenue of 7.64 billion during the quarter, compared to analyst estimates of 7.89 billion. Paramount Global had a negative net margin of 2.05% and a positive return on equity of 1.78%. During the same period in the prior year, the company posted $0.08 earnings per share. On average, research analysts predict that Paramount Global will post 1.37 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Paramount Global

Hedge funds have recently bought and sold shares of the business. Sei Investments Co. lifted its position in shares of Paramount Global by 4.6% in the fourth quarter. Sei Investments Co. now owns 11,300 shares of the company’s stock valued at $222,000 after acquiring an additional 492 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Paramount Global by 16.1% during the second quarter. JPMorgan Chase & Co. now owns 3,785 shares of the company’s stock worth $70,000 after buying an additional 526 shares in the last quarter. Wells Fargo & Company MN lifted its position in Paramount Global by 18.2% during the second quarter. Wells Fargo & Company MN now owns 3,559 shares of the company’s stock worth $66,000 after buying an additional 548 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Paramount Global by 2.0% during the second quarter. Bank of New York Mellon Corp now owns 33,544 shares of the company’s stock worth $623,000 after acquiring an additional 661 shares during the last quarter. Finally, Barclays PLC increased its stake in Paramount Global by 3.1% during the second quarter. Barclays PLC now owns 24,252 shares of the company’s stock worth $450,000 after acquiring an additional 722 shares during the last quarter. Hedge funds and other institutional investors own 5.98% of the company’s stock.

About Paramount Global

(Get Free Report)

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.

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Dividend History for Paramount Global (NASDAQ:PARAA)

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