Paramount slashes quarterly dividend by 79%, stock plummets

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Paramount slashes quarterly dividend by 79%, stock plummets
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Paramount Global Inc. will slash its quarterly dividend to 5 cents a share from 24 cents a share, the media giant announced Thursday. This “updated dividend...

Paramount Global Inc.

will slash its quarterly dividend to 5 cents a share from 24 cents a share, the media giant announced Thursday. This “updated dividend policy we have announced today will further enhance our ability to deliver long-term value for our shareholders as we move toward streaming profitability,” Chief Executive Bob Bakish said in a release. Shares of Paramount were off 15% in premarket trading Thursday. The announcement came alongside Paramount’s first-quarter earnings, which brought a net loss of $1.

will slash its quarterly dividend to 5 cents a share from 24 cents a share, the media giant announced Thursday. This “updated dividend policy we have announced today will further enhance our ability to deliver long-term value for our shareholders as we move toward streaming profitability,” Chief Executive Bob Bakish said in a release. Shares of Paramount were off 15% in premarket trading Thursday. The announcement came alongside Paramount’s first-quarter earnings, which brought a net loss of $1.

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