Disney is bringing back its dividend after cutting it at start of the pandemic

By Emily Bary

Company declares 30-cent per-share quarterly dividend

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, 2023.

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.

-Emily Bary

This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.

(END) Dow Jones Newswires

11-30-23 1641ET

Copyright (c) 2023 Dow Jones & Company, Inc.