The Walt Disney Co. joined the ranks of media companies returning cash to its shareholdesr by announcing that it was increasing its annual cash dividend by 50% to 60 cents a share.
Viacom, CBS, News Corp. and Scripps Networks Interactive are among the media companies that have either raised their dividends or begun extensive share buybacks this year as a way to make their stock more attractive to investors at a time when profits are high, but the economic outlook is difficult.
The dividend is payable on January 18, 2012 to shareholders of record at the close of business on December 16, 2011. The January dividend payment represents the 56th consecutive year of dividend payments to shareholders.
Read more at B&C here.