“The board has also authorized the company to begin repurchasing shares for the first time since fiscal 2018, and we plan to start by targeting $3 billion this fiscal year.”

In context

“with a tremendous opportunity to not only meet more consumers where they are, but to allow more audiences to cultivate a bond with Disney's iconic brands and franchises, including Marvel, Star Wars and much more. Looking at the renewed strength of our businesses this quarter from sports to entertainment to experiences, the stage is now set for significant growth and success. In that regard, we see ample opportunity to increase shareholder returns as our earnings and free cash flow continue to grow. Our current position of strength and confidence in our path ahead already led us to pay a dividend to our shareholders last month. And I'm pleased to share that the board declared that our next semi-annual dividend to be paid in July will be 50% higher versus the last dividend paid in January. The board has also authorized the company to begin repurchasing shares for the first time since fiscal 2018, and we plan to start by targeting $3 billion this fiscal year. As we continue to invest in our growth businesses and maintain our strong balance sheet, we also expect to prioritize dividend payments and share repurchases in the coming years. I'm proud of our company's remarkable achievements, and I'm grateful to a deep bench of seasoned executives who are helping guide Disney into the future. And that includes Hugh Johnston, our new CFO, who has already proven to be an outstanding addition to the team. We feel very fortunate to have Hugh with us. And now to take you through more of our results this quarter, I'll turn things over to Hugh. Hugh Johnston : Thanks, Bob. I joined Disney a little over two months ago. And the more I learned about this incredible company, the more excited I am about the opportunities ahead of us. I'm looking forward to cont”