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Thread: Walt Disney Company to Increase Stock Buybacks

  1. #1
    Administrator Wendy's Avatar
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    Jun 2008
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    Walt Disney Co.’s chief financial officer on Thursday said the Burbank entertainment giant plans to buy back between $6 billion to $8 billion of its stock beginning next year in an effort to increase investor returns.

    During a presentation at a Bank of America Corp. investor conference in Beverly Hills, CFO Jay Rasulo said the company will have more resources available now that many of the capital improvements at its theme parks and upgrades to its cruise line have been completed.

    “Based on the investment we have been doing, we will see an increase in cash flow,” said Rasulo, who was quoted in a Bloomberg News report. “We just worked our way through a huge capital cycle.”

    The company so far this year has repurchased $3.2 billion of its stock. Disney likely will borrow to finance part of next year’s repurchases, but not so much as to hurt its debt rating, Rasulo said. The company also has been increasing its dividend to shareholders, with the 2012 annual dividend up 25 percent to 75 cents a share.

    Shares closed up $1.55, or 2 percent, to $65.49 on the New York Stock Exchange.

    At some point you have to realise that
    some people can stay in your heart
    but not in your life.......

    If ever there is a tomorrow when we're not together.......
    there is something you must always remember.
    You are braver than you believe, stronger than you seem, and smarter than you think.
    But the most important thing is, even if we're apart...... I'll always be with you.
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  2. #2
    Administrator Tink's Avatar
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    Well they ain't gittin' my share!
    Life is fragile. Each day really does matter. Live, live, live! Remember to love and let love, too.

    "It is the mark of an educated mind to be able to entertain a thought without accepting it.” ~Aristotle

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