Disney ups dividend


DisneyWalt Disney Company Chairman/CEO Robert Iger says his company had a great year in 2012, and one way to celebrate is to share the success with shareholders. And there’s still time to buy shares and participate.

The company has declared an annual cash dividend of $0.75, representing a 15 cent – 25% increase from 2011.

It will be paid out 12/28/12 to shareholders of record as of 12/10/12.

“Fiscal 2012 was another great year for The Walt Disney Company, creatively and financially,” said Iger. “We achieved record revenue, net income and earnings per share, while continuing to invest for long term growth, and we are pleased to be able to increase our shareholder dividend by 25 percent.”

According to Wells Fargo’s Marci Ryvicker, the dividend announcement was expected, but her company was expecting it to be three cents lower. She noted it follows a 14% 2011 increase and a 50% 2010 increase, and brings it in line with its peer group.

“Bottom line,” said Ryvicker, “the dividend increase was expected, but the 25% raise was higher than our 20% estimate. We view today’s announcement as a positive, and reiterate our Outperform rating.”