Disney Raises Dividend by 15 Percent

The company will pay 86 cents per share on Jan. 16.

Walt Disney said Wednesday that its board raised the annual cash dividend it pays to investors by 15 percent, to 86 cents per share.

The announcement came after the closing bell. Shares of Disney closed 7 cents higher on Wednesday at $69.97.

The dividend, which is payable on Jan. 16 to shareholders of record on Dec. 16, represents the 58th consecutive dividend payment to shareholders, the company said.

"Disney had a great year creatively and financially in fiscal 2013, delivering record revenue, net income and earnings per share for the third year in a row," said Disney CEO Bob Iger.

Disney, which recorded $45 billion in revenue in its fiscal year 2013, also said it will hold its annual shareholders' meeting on March 18 in Portland, Ore.