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Disney Increases Annual Dividend by 15% to 86 Cents

Dec. 5 (Bloomberg) -- Walt Disney Co., the world’s largest entertainment company, raised its annual dividend by 15 percent to 86 cents a share, the fourth straight yearly increase, after posting record sales and profit.

The dividend will be payable on Jan. 16 to shareholders of as of Dec. 16, Burbank, California-based Disney said yesterday in a statement.

The payout, an increase from 75 cents previously, gives Disney shares an indicated yield of 1.23 percent, based on yesterday’s closing price, according to data compiled by Bloomberg. The company, owner of the namesake theme-parks, cable networks including ESPN, and the ABC broadcast network, paid $1.32 billion in dividends in the last fiscal year, filings show.

Disney gained 0.1 percent to $69.97 yesterday in New York. The stock has gained 41 percent this year.

In September, Disney said it would repurchase $6 billion to $8 billion of its stock in 2014.

The company scheduled its annual meeting for March 18, 2014, in Portland, Oregon.

To contact the reporter on this story: Christopher Palmeri in Los Angeles at cpalmeri1@bloomberg.net

To contact the editor responsible for this story: Anthony Palazzo at apalazzo@bloomberg.net

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