The 75-cent-a-share payment will be made on Dec. 28 to shareholders as of Dec. 10, the Burbank, California-based company said yesterday in a statement. The previous 60-cent annual dividend was paid to investors in January.

The early payment allows Disney investors to sidestep a possible increase in the tax rate, which is set to rise as high as 39.6 percent from 15 percent with the year-end expiration of Bush-era tax cuts. Disney's yield of 1.5 percent remains below the 2.2 percent average of the Standard & Poor's 500 Index and can climb more, said Michael Foss, a portfolio manager.

“They still have room to move that dividend up over time, even with all their growth initiatives,” said Foss, a Disney investor at Brown Advisory in Baltimore. The company reported holding 1.77 million Disney shares as of Sept. 30., according to data compiled by Bloomberg.

Disney was expected to raise its dividend to 70 cents, based on Bloomberg Dividend Projections. The company posted record revenue and profit in the fiscal year ended Sept. 29, Chairman and Chief Executive Officer Robert A. Iger said.

Eoin Treacy's view Disney's purchase of the Star Wars franchise resulted in a sharp decline because of the cost incurred. However, given Disney's long record of squeezing the greatest value from its brands, investors are probably inclined to give them the benefit of the doubt from here on. When I think of how well they have marketed Cinderella to my daughters, despite the movie being more than 50 years old, one can only imagine how successful they will be in developing the Star Wars brand. Additionally, the early payment of an increased dividend will be welcomed and exemplifies the company's sensitivity to shareholder concerns.

I have added Disney to our list of Autonomies because of its leadership in most facets of the global entertainment industry, the diversity of its income and the strength of its balance sheet. The share found support in the region of the 200-day MA over the last couple of weeks and a sustained move below $46.50 would be required to question medium-term scope for additional upside.