$20 billion sale of shares in Disney’s stock ends with a big payout for shareholders

Posted On July 18, 2021

Posted September 12, 2018 06:01:00 Disney’s shares were traded at $10.43 on Friday.

It’s now trading for about $20.

The sale of a majority stake in the Disney-owned Pixar Animation Studios to Disney for $2.9 billion, which includes the purchase of an 80 per cent stake in Pixar Animation, was completed on Monday.

The deal has been in the works for years, with Disney CEO Bob Iger initially telling investors he was in talks to buy shares in the company in 2016.

Iger said on Thursday he was not going to buy the shares at the time.

The announcement comes at a time when Disney is facing tough times, including the recent decline in its stock price.

The stock was trading for $7.10 at the close on Friday before the announcement.

Disney’s share price is down 5.6 per cent over the past year, and the stock is down more than a third since the end of the 2016 holiday season.

Disney CEO Walt Disney said he is committed to being a strong partner and leader in the entertainment and consumer markets.

The company’s stock was last trading down by as much as 19 per cent on Thursday.

“Today’s announcement will ensure that Disney will be an exceptional leader in all aspects of the entertainment industry, including entertainment, content, technology, distribution, merchandising and merchandizing and retail, in a position to create and sustain great brands and experiences,” Iger told analysts.

The deal has already led to some big dividends.

Disney had paid $11.2 billion in cash dividends for the year ending June 30.

I was thrilled to see that the dividend was a little over half of the $19.9bn it had been paying out in cash dividend per year for the last decade.

I know we are all looking forward to a brighter future for our shareholders,” Igers said.