Disney Suspends Its Dividend
While much of the light has gone out at the House of Mouse, there are still some flickers in the form of home entertainment. However, these revenue streams are only a relatively small part of Walt Disney's (NYSE: DIS) overall operations, and the entertainment giant has had to make some crucial adjustments to stay liquid while riding out the rest of the COVID-19 pandemic.
Disney made the difficult decision to furlough its theme park workers, called cast members, in April to save money while parks remain closed indefinitely. In the company's second quarter, it estimated a $1.4 billion impact on its operating income from the parks, experiences, and products segment. That contributed to reduced earnings per share from to $0.60 from $1.61 in the prior year.
Image source: Walt Disney.
Source Fool.com
