November 30, 2011 / 10:00 PM / 7 years ago

Disney hikes dividend 50 percent after strong results

(Reuters) - Walt Disney Co raised its annual cash dividend by 50 percent to 60 cents a share, a far larger increase than the previous year’s on the heels of strong fiscal fourth-quarter results.

The increase in the dividend, payable January 18, outstripped 2010’s 14-percent rise. The media and entertainment giant last year increased its cash dividend 5 cents to 40 cents a share.

In November, the Mouse House unveiled earnings that trumped Wall Street’s expectations as advertisers spent more at cable networks like ESPN, and consumers kept going to theme parks despite a rough economy.

On Wednesday, the company said in a statement that its annual shareholders’ meeting will take place in Kansas City, Missouri on March 13.

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