Walt Disney (DIS) will raise its semi-annual dividend by 4.8 percent to $0.88 per share in the fourth quarter of 2018. This marks the 9th consecutive year of dividend increases by the entertainment company. The Company last paid a semi-annual dividend of $0.84 per share in July.

The increased dividend is payable January 10, 2019 to shareholders of record at the close of business on December 10, 2018.

A new annualized dividend of $1.76 per share yields 1.5% at a stock price of $116.24 for DIS.

“Given our record financial performance in fiscal 2018, we are pleased to increase our dividend to shareholders, while continuing to invest for future growth with our pending acquisition of 21st Century Fox and the ongoing development of our direct-to-consumer business,” said Robert A. Iger, Chairman and Chief Executive Officer, The Walt Disney Company. “This payment brings our total dividends for the fiscal year to $1.72 a share.”

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.