Dis­ney boosts div­i­dend 15%

Los Angeles Times - - BUSINESS BEAT -

The Walt Dis­ney Co. said it would pay div­i­dends twice a year in­stead of once, and in­creased its div­i­dend rate.

The com­pany said it will pay a div­i­dend of 66 cents on July 29. The pay­ment will go to share­hold­ers of record as of July 6. At that rate, it would pay $ 1.32 in an­nual div­i­dends, up al­most 15% over a year ago.

The com­pany paid an an­nual div­i­dend of $ 1.15 in Jan­uary.

Dis­ney had a strong year in 2014 thanks to “Frozen” and other pop­u­lar movies, sales of toys and other mer­chan­dise, and strong re­sults from its theme parks and media net­works. In De­cem­ber it’s set to re­lease “Star Wars: Episode 7 — The Force Awak­ens,” the f irst “Star Wars” f ilm in a decade, fol­low­ing its ac­qui­si­tion of Lu­cas­film in 2012.

Shares of Dis­ney have risen 38% over the last year. Its shares f in­ished down 64 cents, or 0.5%, at $ 113.77 on Wed­nes­day.

The div­i­dend in­crease was an­nounced af­ter the close. Its shares rose 48 cents to $ 114.38 in after­hours trad­ing.

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