The Walt Disney Company (DIS) will raise its semi-annual dividend by 9.9 percent to $0.78 per share. This dividend marks an increase from the $0.71 per share paid in July, 2016.

“We delivered our sixth consecutive year of record revenue, net income and EPS in fiscal 2016, and we are pleased to increase our dividend to shareholders,” said Robert A. Iger, Chairman and Chief Executive Officer, The Walt Disney Company. “This payment brings our total dividends for fiscal 2016 to $1.49 a share.”

The new yield for the entertainment and media enterprise is 1.6% based on a $1.56 annual dividend and Wednesday’s $99.12 closing price.

The Walt Disney Company, together with its subsidiaries, is an entertainment company with operations in four business segments: Media Networks; Parks, Experiences and Products; Studio Entertainment; and Direct-to-Consumer & International (DTCI). In November 2019, the company launched Disney+, a subscription based direct-to-consumer video streaming service with Disney, Pixar, Marvel, Star Wars and National Geographic branded programming. The company's brands also include ABC, ESPN, Twentieth Century Fox, Lucasfilm, Marvel, Pixar, Freeform and FX. Prior to the 2020 dividend suspension Walt Disney had increased its dividend every year since 2010.