DISNEY TO HALT ISSUING ICONIC STOCK CERTIFICATES

For years one of the cool things about owning Disney stock was that investors received stock certificates with Mickey, Donald, Dumbo, Bambi, Cinderella and other Disney characters cavorting over the words “The Walt Disney Company.” They have been one of the few stock certificates that people have framed and displayed on their walls. Alas, after October 16, they will no longer be issued. In fact, the company will no longer issue any paper stock certificates. While many analysts suggested that the decision was another corporate cost-savings move, Disney itself said it represented “an effort to create a more secure and efficient system.” Some analysts speculated that the decision would trigger a run on Disney stock as investors and collectors rushed to obtain the last remaining certificates. It did not. At midday trading on the NYSE, Disney shares were actually down 0,87 percent. However, for the year, the stock is up 29 percent.