Entertainment company, The Walt Disney Company(DIS) reported on Thursday that they will be increasing their dividend payment, and will pay its annual dividend a month early.
The company reported that they will be increasing their annual dividend payment by 25% from 60 cents per share to 75 cents per share. Additionally, DIS will pay their dividend a month early to avoid the potential dividend tax increases in January. The dividend will be paid on December 28 to shareholders of record on December 10.
The dividend tax increase may be as high at 39.6% from the current tax rate of 15%. Many companies are paying their dividends early, or offering special dividends as a result of this potential tax hike.
Disney shares were up 60 cents, or 1.23% during premarket trading Thursday. The stock is up 31.2% YTD.
The Bottom Line
Shares of Walt Disney (DIS) have a 1.52% dividend yield, based on last night’s closing stock price of $49.20. The stock has technical support in the $46 price area. The stock is trading near its all-time high range of $52-$53 a share.
The Walt Disney Company(DIS) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.