Thursday
October
30
2014
10:37 pm
Weather

  Home
  Local News
  State / National / World
  Sports
  Opinion / Letters
  Business
  Arts / Entertainment
  Lifestyle
  Obituaries
  Calendar
  Submit Event
  Comics / Games
  Classifieds
  DJ Designers
  Archives
  Advertise With Us
  About Us
 
 
 
 

Check out our archive of Dining Guides - Yum!

Disney plans to boost buybacks to $6-$8 billion
September 13, 2013, 05:00 AM The Associated Press

NEW YORK — The Walt Disney Co. will buy back between $6 billion and $8 billion of its shares next year, the media company’s chief financial officer said Thursday.

That’s up from the $4 billion a year that Disney has been spending on repurchasing its shares, CFO Jay Rasulo said during an investor conference.

“Given our confidence in the overall company and where our share price sits in the marketplace we intend to significantly increase our buyback next year,” Rasulo said. The company may borrow some money to fund the buybacks toward the end of the year, but not enough to bring its credit rating down, he said.

Disney’s shares spiked following Rasulo’s comments, and gained more than 2.4 percent, or $1.55, to close at $65.49 Thursday.

Disney’s upcoming projects will provide growth for the company, said Rasulo. After buying Lucasfilm last year for $4 billion, Disney is set to release its first “Star Wars” film in 2015. It also expects to open a new theme park resort in Shanghai during the same year.

Rasulo made his comments at a Bank of America Merrill Lynch conference in Beverly Hills, Calif.

 

 

Tags: billion, rasulo, company, disney, shares,


Other stories from today:

 

 
Print this Page Print this Page  |  Bookmark and Share
<< Back
 
Return To Archives
 
  


 
 
 
Daily Journal Quick Poll
 
Now that the Giants have won three World Series titles in five years, would you say they are a dynasty?

Absolutely, yes
I would think so
Maybe one more would make them a dynasty
I don't like the word dynasty
Madison Bumgarner is a dynasty!

 

 
 
 
 
 
 
Multiple officers injured during World Series victory celebrations
Multiple San Francisco police officers were injured while attempting to disperse crowds and extingui..
Protesters storm Burkina Faso parliament, set fire
OUAGADOUGOU, Burkina Faso — Protesters stormed Burkina Faso's parliament Thursday, dragging furnit..
Maine nurse defies Ebola quarantine with bike ride
FORT KENT, Maine — A nurse who vowed to defy Maine's voluntary quarantine for health care workers ..
More >>  
 
 
  
 
  
 
©2014 San Mateo Daily Journal
San Mateo County DBA