(MENAFN- Baystreet) Ford To Issue Special Dividend Payment
Meta Platforms Will Pay a Dividend. Could it Become a Top Income Stock to Own?
Chevron Raises Dividend 8% Amid Record Payout To Shareholders
Meta Platforms Declares First Dividend
Oil Major Shell Raises Its Dividend By 4% Add this under widget Previous Articles Subscribe to Get Small Cap News & Alerts David Jagielski - Monday, February 12, 2024
Is Walt Disney Stock a Buy After Announcing a 50% Dividend Increase?
The Walt Disney Company (NYSE: DIS) recently posted its first-quarter results for fiscal 2024 while also announcing a significant 50% increase in its cash dividend to $0.45 per share. This move marks a notable pivot in Disney's strategy, reflecting confidence in its operational strength and future cash flow prospects. But does this make Disney a compelling income stock for investors?
Disney reported revenue of $23.5 billion, which was flat from the prior-year period. However, the company's diluted earnings per share (EPS) rose from $0.70 to $1.04, underscoring the efficiency and cost reduction measures Disney has undertaken over the past year. The company is on track to meet or exceed its ambitious $7.5 billion annualized savings target by the end of fiscal 2024.
What was particularly notable was its improvements in its direct-to-consumer segment, reducing operating losses by nearly $300 million versus the prior quarter.
Not only did Disney announce a big dividend increase, but it also plans to buy back $3 billion in shares during fiscal 2024. For investors, that means they can benefit from the recurring income a dividend offers while share repurchases can help lead to a stronger stock price, potentially resulting in better long-term returns for investors.
Although Disney increased its semi-annual dividend payment, at $0.90 for the full year, it's still a relatively modest yield of 0.8%. There are better options out there for dividend investors. And with Disney still ongoing many changes in its business and a lot of uncertainty ahead, this isn't the safest stock to be owning right now. As a result, investors are better off taking a wait-and-see approach with Disney.
About Us Contact Us Advertise License Our Content Jobs Disclaimer Privacy Policy
Copyright 1998 - 2024 Baystreet Media Corp. All rights reserved. Nasdaq Stocks: Information delayed 15 minutes. Non-Nasdaq Stocks: Information delayed 20 minutes. Bid and Ask quotation information for NYSE and AMEX securities is only available on a real time basis. Market Data is provided by QuoteMedia. Earnings by Zacks. Analyst Ratings by Zacks
MENAFN12022024000212011056ID1107843149
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.