NEW YORK (TheStreet) -- Shares of The Walt Disney Co. (DIS) are up 0.53% to $93.60 in pre-market trade after the entertainment company's board of directors declared an annual cash dividend of $1.15 per share, up 34%, or 29 cents per share, from the previous year. The announcement was made after yesterday's market close.
The dividend is payable on January 8, 2015 to shareholders of record at the close of business on December 15, 2014. This is Disney's 59th consecutive dividend payment to shareholders.
"Disney delivered the highest results in its history in fiscal 2014, reflecting the extraordinary quality of our creative content and the unparalleled strength of our brands," said Robert A. Iger, Chairman and CEO. "We achieved record revenue, net income and earnings per share for the fourth year in a row, and we are delighted to be able to increase our shareholder dividend by 34% while continuing to invest for future growth."
The company also announced that it has scheduled its annual shareholders' meeting for Thursday, March 12, 2015, in San Francisco.
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TheStreet Ratings team rates DISNEY (WALT) CO as a Buy with a ratings score of A+. TheStreet Ratings Team has this to say about their recommendation:
"We rate DISNEY (WALT) CO (DIS) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its solid stock price performance, growth in earnings per share, revenue growth, notable return on equity and reasonable valuation levels. We feel these strengths outweigh the fact that the company shows low profit margins."