LOS ANGELES, July 9 (Reuters) - Walt Disney Co.Chief Executive Michael Eisner on Friday said he planned to recommend an increase in the company's dividend.
Disney previously has said its cash flow is rising and that it would have room to increase its payout to investors. The board last declared an annual dividend of 21 cents per share in December.
Answering questions at the Allen & Co. media executives conference in Sun Valley, Idaho, Eisner "repeated his confidence in the strength of the company's balance sheet and said that management would likely recommend to the board an increase in the company's dividend," Disney said.
Disney shares rose 20 cents, to $24.55 on the New York Stock Exchange.
Disney previously has said its cash flow is rising and that it would have room to increase its payout to investors. The board last declared an annual dividend of 21 cents per share in December.
Answering questions at the Allen & Co. media executives conference in Sun Valley, Idaho, Eisner "repeated his confidence in the strength of the company's balance sheet and said that management would likely recommend to the board an increase in the company's dividend," Disney said.
Disney shares rose 20 cents, to $24.55 on the New York Stock Exchange.