Disney Boosts Dividend 50%

Dow component Walt Disney

, the owner of the ABC and ESPN networks, said it's raising its annual dividend to 60 cents per share from the current level of 40 cents, good for a 50% jump. The dividend is payable on Jan. 18, 2012 to shareholders at the close of business on Dec. 16, 2011. The California-based company said January 2012 will represent the 56th straight year it has paid a dividend. “The Walt Disney Company had a great creative, strategic and financial year in fiscal 2011 with record revenue, net income and earnings per share,” said Robert A. Iger, Disney CEO, in a news release. “We are pleased to be able to raise our shareholder dividend by 50 percent while continuing to invest for future growth." At the close Wednesday, Disney had a dividend yield of 1.2%.