Daniel Loeb Calls for Disney to Halt Dividend, Boost Streaming Content --Hollywood Reporter

--Daniel Loeb, whose firm Third Point LLC is a Walt Disney Co. shareholder, called for the company to halt its dividend and instead use the funds to increase its streaming content, according to a Hollywood Reporter article.

--Mr. Loeb wrote in a letter to Disney that "by reallocating a dividend of a few dollars per share, Disney could more than double its Disney+ original content budget," the report said.

--Disney made a semi-annual payout of 88 cents a share in January. In May, the company said it would forgo the dividend for the first half of fiscal 2020, citing disruption caused by the Covid-19 pandemic.

Full story: https://www.hollywoodreporter.com/news/activist-investor-dan-loeb-calls-on-disney-to-halt-dividend-and-double-streaming-budget

Write to Josh Beckerman at josh.beckerman@wsj.com

(END) Dow Jones Newswires

October 07, 2020 13:56 ET (17:56 GMT)

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