By Maria Armental
Walt Disney Co. said Wednesday it is raising its dividend 15% on
an annualized basis and will begin paying it twice a year as it
continues to benefit from 'Frozen' and looks forward to a new 'Star
Wars' release.
The new dividend is $1.32 a share, up from $1.25. The first
payment, for the first six months of the year, will be made on July
29.
Chief Executive Robert Iger in a news release referenced the
company's strong performance in the first half of this year. Disney
has reported stronger results recently, bolstered by "Frozen"
merchandise sales that have helped offset struggles in its film
studio segment.
Disney has said it would put Star Wars merchandise on sale in
September, leading to the Dec. 18 planned release of "Star Wars:
The Force Awakens."
Shares, which set an intraday all-time high during regular
trading but closed Wednesday down 0.6% at $113.77, rose slightly in
late trading to $114.25.
Write to Maria Armental at maria.armental@wsj.com
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