Disney Boosts Dividend by 15%

By Industries FOXBusiness


Walt Disney (DIS) hiked its annual cash dividend by 15% after recording its best-ever revenue and net income in fiscal 2013.

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The Burbank, Calif., company said Wednesday that its board approved a dividend of 86 cents a share, up 11 cents compared to the prior year.

The dividend is payable on Jan. 16, 2014, to shareholders of record on Dec. 16.

“Disney had a great year creatively and financially in fiscal 2013, delivering record revenue, net income and earnings per share for the third year in a row,” Chairman and CEO Robert Iger said.

In November, the company reported a 12% jump in its fourth-quarter profit on broad revenue growth.

Disney also announced that its annual shareholder meeting will be held on March 18, 2014, in Portland, Oregon.

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Shares rose 39 cents to $70.38 in after-hours trading on Wednesday. The stock has gained 40.5% on the year.

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