Daniel Loeb Calls for Disney to Halt Dividend, Boost Streaming Content --Hollywood Reporter
October 07 2020 - 1:11PM
Dow Jones News
--Daniel Loeb, whose firm Third Point LLC is a Walt Disney Co.
shareholder, called for the company to halt its dividend and
instead use the funds to increase its streaming content, according
to a Hollywood Reporter article.
--Mr. Loeb wrote in a letter to Disney that "by reallocating a
dividend of a few dollars per share, Disney could more than double
its Disney+ original content budget," the report said.
--Disney made a semi-annual payout of 88 cents a share in
January. In May, the company said it would forgo the dividend for
the first half of fiscal 2020, citing disruption caused by the
Covid-19 pandemic.
Full story:
https://www.hollywoodreporter.com/news/activist-investor-dan-loeb-calls-on-disney-to-halt-dividend-and-double-streaming-budget
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
October 07, 2020 13:56 ET (17:56 GMT)
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