By Samantha Sharf
Disney is making income investor’s dreams come true for the fourth year in a row.
The Walt Disney DIS +0.1%company announced an 11 cent increase to it’s annual dividend today. The 86 cent per share dividend will be divvied out on January 16 of next year. With 1.8 billion shares outstanding Disney has put itself on the hook for a $1.55 billion payout, up 15% from last year’s 75 cent per share payout. Following a trend of companies adding to dividends as improved earnings leave them with large cash piles, the company has increased it’s dividend annually since 2010.
In a statement CEO Robert Iger noted that the company has had strong profits for the last three years and will still maintain funds to invest in growth. Last month, Disney reported fiscal 2013 net income of $6.1 billion and earnings per share of $3.13, both up 8% from the prior year. Revenue was also up 7% to $45 billion.
Walt Disney shares are up .7% to $70.46 following the news. Year-over-year the stock is up 41.8%
Earlier today, Deere & Co DE +3.23% unveiled plans to add $8 billion to its existing buyback plan. The original program authorized buying $5 billion worth of shares beginning in May 2008 and has about $1 billion left to pay. Deere also declared a 51 cent quarterly dividend payable on February 3, 2014. The company increased its dividend to the current rate in December 2012.
Deere & Co share were up 3.2% to $85.38 today following the morning announcement.
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