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 Jay Rasulo said.
That’s up from the $4 billion a year that Disney has been spending on repurchasing its shares.
Disney’s shares spiked following Rasulo’s comments, and gained more than 2.4 per cent, or $1.55, to close at $65.49 on 12 September.
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.
Source: http://cablequest.org/news/international-news/item/3216-disney-plans-to-boost-buybacks-to-$6-$8-billion.html
Source: http://cablequest.org/news/international-news/item/3216-disney-plans-to-boost-buybacks-to-$6-$8-billion.html
Source: http://cablequest.org/news/international-news/item/3216-disney-plans-to-boost-buybacks-to-$6-$8-billion.html
Source: http://cablequest.org/news/international-news/item/3216-disney-plans-to-boost-buybacks-to-$6-$8-billion.html
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