NEW YORK (TheStreet) -- Shares of The Walt Disney Co. (DIS) were rising by 1.08% to $115 in early market trading Thursday, after the company announced that it raised its cash dividend by 15% on an annualized basis, and moved to a twice a year payout.
Disney declared a semi-annual cash dividend of 66 cents per share, which will be payable on July 29 to shareholders on record as of July 6.
Walt Disney is still raking in profits from the Frozen film and related merchandise, and sees a blockbuster several-year period with the new Star Wars films, according to CNBC.
"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," company CEO Robert Iger said in a statement.
Walt Disney Co. is a diversified international family entertainment and media enterprise with five business segments including media networks, parks and resorts, studio entertainment, consumer products, and interactive media.
Media networks comprise an array of broadcast, cable, radio, publishing, and digital businesses across the Disney/ABC Television Group and ESPN Inc.
The company is based in Burbank, Calif.
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."