Walt Disney, buoyed by record financial results, boosted its semi-annual dividend by 10 percent, saying Wednesday it will pay stockholders 78 cents for each share they own on Dec. 12, up from 71 cents previously.
In the fiscal year, which ended Oct. 1, Disney recorded revenue that rose 6 percent to $55.6 billion and net income that rose 12 percent to $9.4 billion, in large measure due to a record $7.5 billion in box-office results led by Star Wars: The Force Awakens.
“We delivered our sixth consecutive year of record revenue, net income and earnings-per-share in fiscal 2016, and we are pleased to increase our dividend to shareholders,” Disney CEO Bob Iger said Wednesday. “This payment brings our dividends for fiscal 2016 to $1.49 a share.”
The company also announced Wednesday that it will hold its annual shareholders’ meeting on March 8, this time in Denver. Disney tries to schedule its annual meeting in a different U.S. city each year.
Shares of Disney fell 1 percent Wednesday to $99.12 and are down 6 percent this calendar year.