Disney declared their dividend of $.35 a share, which is an increase of over 12% compared to last year. Knowing Disney made $1.92 per share last year, that leaves $1.57 per share for paying down debt, share repurchase, and investing in new projects. Since Disney has drastically improved its debt rating, look for Disney to start looking for ways to grow. Acquasitions, small to medium size, are probably in Disney's future. Disney has the cash to do something, so look for them to start doing it. It will be interesting to see where Disney decides to spend its money.
Walt Disney World announced that they will outsource kennels in January and are building a "pet resort" to be run by Best Friends PetCare Inc. I am critical of Disney outsourcing, but this seems to make sense. While I know Disney did think of doing a pet park themselves, I think Disney magic is waisted on dogs and cats. I love dogs, especially my Happy, but the emotional connection we humans have with Disney doesn't seem to connect with animals. Perhaps they are the smarter ones for seeing past the sentimentality and nostalgia. This seems to be a happy medium. The pets will have their own place made for them, while us glorified pooper scoopers can enjoy the uniquely human experience of going to a Disney park.