I won't reiterate my disenchantment with what Disney has become, and how they have lost sight and care for "the show and the magic" (in MY mind, and IMHO) in the last decade or so - done that here too many times. I am in the process of selling all my shares except 1, so that I can hang onto that 1 share, and the beautiful certificate that came with it - part of the whole reason I bought it back in '92 in the first place. As I have always said, and will continue to say - at least for me - some things are MUCH more important than making money.
Every time I have stated my thoughts, and sadness, about what's been going on, I always get "they're a business, they've got to make money, grow/wise up!" or something along those lines - whether that be here, or anywhere else.
Well - I recently went to do my taxes, and was looking for my 10999 from them, thinking I had somehow lost/misplaced it - which stunned me, because I'm pretty organized, especially when it comes to "financial/tax stuff". I knew what the email I'm about to share with all of you was about, because I had called ComputerShare to find out where mine was.
I share the following not to start a debate or anything, although reasonable, calmly stated opinions are ALWAYS appreciated. I'm just sharing because - again - to ME - this says it all - here I am, hurting for myself at all the magic and My Happy Place being lost, all the CM"s that had to be hurt, and knowing so many that will never get to know, and love, the magic of the parks, and the company, that I did. And for what? If they didn't even pay dividends (which I had forgotten whether I got or not - that was NEVER my point for owning shares anyway, and they were not a lot - ever) what's it all been for? Making huge dividends wouldn't have made me any happier about any of it, but this DEFINITELY makes me angry when I hear "they HAVE to make money for the stockholders". So - you hurt SO many people, and yet paid NO dividends? So - what's the rationale now? How are you going to feebly try and placate me, and everyone else that was hurt if you can't throw "having to make the shareholders happy" in my VERY unhappy, disillusioned, hurt, face?
I probably didn't do anywhere near an adequate job on verbalizing how I feel, and have felt, since my last visit in '12. I did vote against Chapek, and the whole entire Board. Speaking with my wallet by not going in almost 10 years, as Pete always says, and by also voting my shares against "the great cost and people cutting machine". I am sad.
Anyway - here is the email I go this morning, which brought this to my mind, and made me decide to post my rambling thoughts - hopefully they made some sense to some:
Dear Disney Shareholder,
Please note, The Walt Disney Company did not pay a dividend in calendar year 2021; therefore, no 1099-DIV tax forms will be issued for tax year 2021.
Thank you,
Computershare Investor Services