Disney Declares Dividend, Adds Director

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The Walt Disney Co. said Wednesday that its board of directors has declared an annual cash dividend of $0.24 per share.

The dividend -- up 14% compared with the company’s 2003 dividend -- will be payable Jan. 6 to shareholders of record at the close of business Dec. 10.

“As a result of our recent financial successes, including record cash flow in fiscal 2004, returning cash to investors remains an important part of our capital plan,” Disney CEO Michael Eisner said in a prepared statement.

In other Disney news, The Estee Lauder Cos. Inc. chairman of global affairs Fred H. Langhammer has been elected as a new independent director on Disney’s board.

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