By Maria Armental 

Walt Disney Co. on Wednesday declared a dividend of 78 cents for the second half of 2016, increasing its total payout for the year by 8.8%.

With the latest dividend, payable Jan. 11 to shareholders of record at the close of business Dec. 12, the media company's total payout for the year will be $1.49 a share, up from $1.37 a share last year.

The company -- whose latest animated movie "Moana" had the second-best five-day Thanksgiving opening just behind the Disney hit "Frozen" -- reported a 12% increase in annual profit earlier this month as revenue reached $55.63 billion, setting record highs even as sports powerhouse ESPN continued to weigh on results.

Shares, which have fallen 6% this year, gained 18 cents to $99.30 in after-hours trading.

Write to Maria Armental at maria.armental@wsj.com

 

(END) Dow Jones Newswires

November 30, 2016 17:38 ET (22:38 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.
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