By Rob Otman Walt Disney suspended its dividend for the first half of 2020. It normally pays a semi-annual dividend and has a long history of dividend growth. It’s even a coveted blue chip stock. So this move comes as a shock to many investors.
The coronavirus has disrupted many industries and the house of mouse isn’t exempt. Disney is a diversified media giant with products like Disney+ streaming, which has seen a sales bump. While others, like its theme parks, have shut down completely. That’s a big loss of revenue.
To stay in a position of financial strength, management is making tough decisions. The …read more
