The Walt Disney Co. board has increased its annual cash dividend by 50 percent, the media giant announced Wednesday.
The new dividend is 60 cents per share, up from 20 cents per share from the previous year. It is payable on Jan. 18, 2012, the company said.
The move comes a day after Disney offered investors $1.6 billion in bonds; its third such debt offering this year.
It also takes place after the box office success of "The Muppets." The reboot of the Jim Henson puppet franchise has grossed $43.6 million domestically since opening last week.
"The Walt Disney Company had a great creative, strategic and financial year in fiscal 2011 with record revenue, net income and earnings per share,” Robert Iger, Disney's president and CEO, said in a statement. "We are pleased to be able to raise our shareholder dividend by 50 percent while continuing to invest for future growth."
The company also announced that it has scheduled its annual shareholders' meeting for Tuesday, March 13, 2012, in Kansas City, Mo.
