Disney just sent investors a steady-as-she-goes signal, maintaining its semi-annual cash dividend at 71 cents a share. It will go out on July 28 to shareholders of record on July 11.
Disney began paying a dividend twice a year in July 2015, when it set the price at 66 cents. It was raised to 71 cents in December.
“Following record earnings per share for the first six months of Fiscal 2016, we are pleased to deliver another strong dividend to our shareholders,” CEO Bob Iger says.. “This payment brings our total dividends in calendar year 2016 to $1.42 a share.”
The dividend comes at a time when investors are trying to determine whether the potential loss of viewers at ESPN, the company’s cash cow, might be outweighed by successes at its theme parks and at the box office.
Not including the dividend, Disney shares have lost 7.7% of their value since the beginning of this year and are down 15.7% over the last 12 months.