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United States - Disney buyback grows
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The Walt Disney Co will buy back between US$6 billion and US$8 billion of its shares next year, the media company’s chief financial officer said on Thursday.
That’s up from the US$4 billion a year that Disney has been spending on repurchasing its shares, CFO Jay Rasulo said during an investor conference.
“Given our confidence in the overall company and where our share price sits in the marketplace, we intend to significantly increase our buyback next year,” Rasulo said.
The company may borrow some money to fund the buybacks toward the end of the year, but not enough to bring its credit rating down, he said.
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