Walt Disney Co. (DIS) has increased its dividend payment by 33% following a strong year at the entertainment company.
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Disney said it is lifting its annual distribution to $1 per share. The dividend will be paid in two installments of $0.50 a share: on January 16, 2025 and on July 23, 2025. Disney previously paid its stockholders an annual dividend of $0.76 a share.
In a news release, Disney CEO Bob Iger said that the company was increasing its dividend after a “highly successful year.” Several Disney movies performed well in theaters this past year, reversing a downward trend that had occurred since the Covid-19 pandemic struck in 2020.
Box Office Royalties
Disney movie “Inside Out 2” earned more than $1.5 billion at the global box office and became the highest-grossing animated film ever, while “Moana 2” just set the Thanksgiving weekend box-office record. The live action Marvel movie “Deadpool & Wolverine” also grossed more than $1 billion at the box office.
At the same time, Disney’s streaming service turned a profit for the first time earlier this year, and the company has seen a recovery in visits to its theme parks and attractions. After declining sharply coming out of the pandemic, DIS stock has gained 29% this year.
Is DIS Stock a Buy?
The stock of Walt Disney Co. has a consensus Strong Buy rating among 20 Wall Street analysts. That rating is based on 15 Buy and five Hold recommendations assigned in the last three months. The average DIS price target of $124.29 implies 6.79% upside from current levels.
