The Walt Disney Co. on Wednesday raised its annual dividend by 33%, to $1 a share, after a year marked by increased streaming profits and blockbuster movies.

Chief Executive Bob Iger said the dividend raise comes after a successful year for the media company. It added that it is looking at a fresh batch of candidates to succeed Iger.

Disney has declared a cash dividend of $1 per share, a 33% increase over the 75 cent per share dividend paid to shareholders during fiscal year 2024. The new dividend will be payable in two 50 cent per share installments on Jan.