Disney's Dividend Isn't Coming Back Soon
Income investors waiting for Walt Disney (NYSE: DIS) to bring back its dividend may want to get comfortable. Speaking at the Goldman Sachs Communacopia Conference on Tuesday, CEO Bob Chapek was asked about when the family entertainment giant would resume the distributions it suspended in early 2020. Payout fans won't like the answer.
"We're not going to entertain doing that," Chapek said, until the company's credit rating and cash flows improve. "The clear priority is funding our new growth businesses that we've got."
It's probably not a surprise. In short, Disney+ ate your dividend check.
Source Fool.com
