The Walt Disney Company has seen its fair share of ups and downs over the last few years.
©Disney | Walt Disney Company Headquarters
From lawsuits and less-than-stellar Disney+ subscriber numbers to political controversy and more — it’s been a rough time to be a Disney fan, and likely an even rougher time being a Disney shareholder. But, good news is here for shareholders for the first time since 2020.
On November 30th, 2023, The Walt Disney Company Board of Directors announced a cash dividend of $0.30 per share for the second half of fiscal year 2023. The dividend will be “payable January 10, 2024 to shareholders of record at the close of business on December 11, 2023.”
Walt Disney Company Headquarters ©LA Times
“This has been a year of important progress for The Walt Disney Company, defined by a strategic restructuring and a renewed focus on long-term growth,” said Mark Parker, Chairman of the Board. “As Disney moves forward with its key strategic objectives, we are pleased to declare a dividend for our shareholders while we continue to invest in the company’s future and prioritize meaningful value creation.”
Magic Kingdom
Per Scott Gustin, Disney suspended the dividend in May 2020 when it was priced at $0.88 per share. Prior to COVID, Disney declared dividends semi-annually.
This is likely welcome news, as Disney stock has not been doing well lately. Back in October, prices were trading at their lowest point in nearly 10 years — since October 2014. During the most recent company earnings call, we learned that revenues for Q4 of fiscal year 2023 grew 5% and 7% compared to the prior year-quarter and prior year, respectively.
Disney California Adventure
So, if you’re a Disney shareholder, keep an eye out for that cash dividend payment — and if you’re not, well, maybe now is a good time to take the leap!
Mickey and Minnie
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The post NEWS: Disney Announces Cash Dividend for First Time in 3 Years first appeared on the disney food blog.