Disney Sprints New All Time High Of Dividend Increase

em>Joel Elconin is the co-host of

, a daily trading idea radio show.

Disney

shares are trading higher by $1.10 at $114.87 in Thursday's session. The catalyst for the rally is the announcement made by the company that it will be increasing its quarterly diviuded from $0.27 to $0.33 and that will now be paid on semi-annual basis. Off the open, it sprinted to a new all time at $115.21, surpassing its former high of $114.56 that was made in Wednesday's session. After making the high it retreated and found support just above its former all time high, reaching $114.50 before rebounding back to the $115 level.