The Walt Disney Co. is raising its annual dividend by 50 percent to 60 cents a share.

President and CEO Robert Iger said Wednesday that the increase is due to the company's record revenue, net income and earnings per share in fiscal 2011.

The dividend will be paid on Jan. 18 to shareholders of record on Dec. 16.

Disney also scheduled its annual shareholders' meeting for March 13 in Kansas City, Mo.

Shares rose $1.85, or 5.4 percent, to close at $35.85 amid a broad market rally.