Walt Disney Co., the world's largest entertainment company, raised its annual dividend by 25 percent, joining other companies boosting their payouts ahead of an expected tax-rate increase next year.
The 75-cent-a-share payment will be made on Dec. 28 to shareholders as of Dec. 10, the Burbank, California-based company said yesterday in a statement. The previous 60-cent annual dividend was paid to investors in January.
The early payment allows Disney investors to sidestep a possible increase in the tax rate, which is set to rise as high as 39.6 percent from 15 percent with the year-end expiration of Bush-era tax cuts. Disney's yield of 1.5 percent remains below the 2.2 percent average of the Standard & Poor's 500 Index and can climb more, said Michael Foss, a portfolio manager.
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