Paramount Global Declares Quarterly Cash Dividends

Rhea-AI Summary

On March 10, 2023, Paramount Global (NASDAQ: PARA, PARAA) announced its Board of Directors has declared a quarterly cash dividend of $0.24 per share for Class A and Class B Common Stock. This dividend will be payable on April 3, 2023, to stockholders of record as of March 20, 2023. Additionally, a dividend of $1.4375 per share on its 5.75% Series A Mandatory Convertible Preferred Stock will also be paid on the same date. These actions reflect the company’s commitment to returning value to shareholders.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Positive

• Quarterly cash dividend of $0.24 per share for Class A and Class B stock.
• Quarterly cash dividend of $1.4375 per share on Series A Mandatory Convertible Preferred Stock.
• Dividends payable on April 3, 2023, indicating strong cash flow management.

Negative

• None.

News Market Reaction – PARAA

-4.52%

-4.52% News Effect

On the day this news was published, PARAA declined 4.52%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

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NEW YORK, March 10, 2023 /PRNewswire/ -- Paramount Global (NASDAQ: PARA, PARAA) today announced that its Board of Directors has declared a quarterly cash dividend of $0.24 per share on both its Class A and Class B Common Stock. The dividend will be payable on April 3, 2023, to stockholders of record at the close of business on March 20, 2023.

At the same time, the Board of Directors also declared a quarterly cash dividend of $1.4375 per share on its 5.75% Series A Mandatory Convertible Preferred Stock. The dividend will be payable on April 3, 2023, to stockholders of record at the close of business on March 20, 2023.

About Paramount
Paramount Global (NASDAQ: PARA, PARAA) is a leading global media, streaming and entertainment company that creates premium content and experiences for audiences worldwide. Driven by iconic consumer brands, Paramount's portfolio includes CBS, Showtime Networks, Paramount Pictures, Nickelodeon, MTV, Comedy Central, BET, Paramount+ and Pluto TV. Paramount holds one of the industry's most extensive libraries of TV and film titles. In addition to offering innovative streaming services and digital video products, the company provides powerful capabilities in production, distribution, and advertising solutions.

For more information about Paramount, please visit www.paramount.com and follow @ParamountCo on social platforms.

PARA-IR

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SOURCE Paramount Global

FAQ

What is the dividend amount declared by Paramount Global on March 10, 2023?

Paramount Global declared a quarterly cash dividend of $0.24 per share for its Class A and Class B Common Stock.

When will the dividends be payable for Paramount Global in 2023?

The dividends will be payable on April 3, 2023.

Who are eligible to receive the dividend from Paramount Global?

Stockholders of record as of March 20, 2023, are eligible to receive the dividend.

What is the dividend for the Series A Mandatory Convertible Preferred Stock?

The dividend for the Series A Mandatory Convertible Preferred Stock is $1.4375 per share.