Walt Disney Announces Dividend Increase
Strong Financial Performance Drives Shareholder Return
Company Declares 3 Billion Stock Buyback Plan
The Walt Disney Company (NYSE: DIS) today announced an increase in its semi-annual dividend to $0.45 per share from $0.30 previously. This marks a 50% increase from the previous dividend rate, reflecting the company's strong financial performance and commitment to returning value to shareholders.
The dividend is payable in July 2024 to shareholders of record as of June 2024. The company also announced a $3 billion stock buyback plan, its first in several years. This plan demonstrates Disney's confidence in its future growth prospects and its commitment to maximizing shareholder value.
CEO Bob Iger stated, "We are pleased to announce this significant increase in our dividend and the launch of our stock buyback plan. These actions reflect our confidence in the company's long-term growth prospects and our ongoing commitment to delivering strong returns to our shareholders.".
Disney's announcement comes on the heels of a strong fourth-quarter earnings report. The company reported revenue of $23.5 billion and diluted earnings per share of $1.04, beating analyst expectations. The theme park and streaming businesses were key drivers of the company's growth in the quarter.
Analysts believe that Disney's dividend increase and stock buyback plan will be well received by investors. The company's strong financial position and growth prospects make it an attractive investment for both income-oriented and growth-oriented investors.
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