NEW YORK (TheStreet) -- The Walt Disney Co. (DIS) announced on Wednesday afternoon that it increased its cash dividend for the first half of 2015 by 15%. The dividend will be payable on July 29 to shareholders on record as of the close of trading on July 6.
"Disney delivered significant increases in revenue, net income and EPS for the first half of fiscal 2015. We are pleased to raise our dividend 15% on an annualized basis, as well as increasing the frequency of our dividend payments," Disney CEO Robert Iger said in a statement.
Disney declared a cash dividend of 66 cents per share.
Shares of Disney closed lower by 0.52% to $113.81 on Wednesday afternoon. By the end of trading, 5.52 million shares of Disney had exchanged hands as compared to its average daily volume of 5.76 million shares.
Disney's latest animated Pixar film "Inside Out" opened last weekend with a record $91.1 million domestic launch. This was Disney/Pixar's second highest opening weekend ever. In 2010 the studio's "Toy Story 3" earned $110.3 million in its debut weekend.
Separately, 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 revenue growth, growth in earnings per share, increase in net income, notable return on equity and good cash flow from operations. We feel its strengths outweigh the fact that the company shows low profit margins."