Disney’s ‘Creative Management’

Now Disney wants to pay stock dividends not quarterly but annually to “reduce costs” [“Disney to Pay Dividends on an Annual Basis,” Sept. 30].

No wonder the Disney bean counters are looking for penny-pinching schemes. First they hire a man for a year and then pay him $90 million to leave. That’s cutting costs?

It’s obvious to this stockholder that what Disney really wants is to reap more interest on the dividend reserves that accumulate during the year. If Disney’s so-called creative management was doing an acceptable job of turning out good moneymaking films and television programs, it would not have to resort to such grudging dividend plans.

I depend on quarterly dividends from stocks for through-the-year income, as I’m sure many stockholders do. I will sell Disney if it goes ahead with this once-a-year idea. Who needs equity in a company with such a myopic business attitude?

DON DELONE

San Clemente