Walt Disney Co. plans to reinstate its dividend after suspending it at the start of the pandemic.
The media giant on Thursday afternoon declared a 30-cent cash dividend per share, which will be payable Jan. 10, 2024 to Disney
DIS,
shareholders of record as of Dec. 11.
See also: Disney CEO Bob Iger walks back comments about asset sales
“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,” Chairman Mark Parker said in a release. “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.”
The company last paid a 88-cent per-share quarterly dividend in January 2020.
Shares of Disney were up about 1% in Thursday’s aftermarket action.
Disney once again faces activist pressure, with investor Nelson Peltz looking for seats on the company’s board of directors.
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