Disney will increase its stock buybacks to $6 billion to $8 billion in fiscal 2014, Chief Financial Officer Jay Rasulo told investors on Thursday, sending shares up 3 percent.
In recent years, Disney has been buying back about $4 billion in shares annually, Rasulo said at a Bank of America Merrill Lynch conference. He said Disney can boost the buybacks while maintaining its credit rating. The company may borrow some cash "to provide capital at the tail end of that plan," he said.