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Walt Disney Co. Boosts Cash Dividend

Walt Disney Co. Boosts Cash Dividend

Media and entertainment giant increased annual cash divined by 15 percent

The Walt Disney Company will increase its annual cash dividend by 15 percent after a fiscal year that once again demonstrated the continued strength of its theme park and cable holdings.

The media and entertainment will reward investors with a dividend of 86 cents per share, up from 11 cents per share last year. It will be payable on January 16, 2014. The award represents the company's fifty eighth consecutive dividend payment to shareholders, Disney said.

“Disney had a great year creatively and financially in fiscal 2013, delivering record revenue, net income and earnings per share for the third year in a row,” Robert A. Iger, Disney's chairman and CEO, said in a statement.

Last year, Disney's revenues jumped 7 percent to more than $45 billion and net income increased 8 percent to $6.1 billion.

The major drivers of that growth were ESPN, which continued to be a broadcasting cash-cow, and Disney's parks and resorts division, which saw its operating income increase substantially. Disney's film division also had hits such as “Iron Man 3” and “Monsters University,” although profits fell eight percent for the year.

Disney's shares were up .7 percent to $70.46 in after-hours trading.