Disney Boosts Dividend, Will Pay It Twice a Year -- Update

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 annual dividend amount would be $1.32 a share, up from $1.15. The first payment of 66 cents, covering the first six months of the year, will be made 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.

Corrections & Amplifications

Walt Disney Co.'s current annual dividend is $1.15 a share. An earlier version of this story incorrectly said it was $1.25.

Write to Maria Armental at [e-mail]

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