One of the bigger surprises out of Walt Disney's (NYSE: DIS) well-received fiscal first-quarter earnings call was that it would be bringing back its dividend by the end of this calendar year. The media giant suspended its payouts in early 2020, bracing for the impact of the COVID-19 crisis.

The last cash distribution came near the end of 2019, so the dividend drought will have lasted four years when Disney resumes the return of money to its investors. It may seem like a good thing. Nature is healing. It's a return to normalcy. 

But this doesn't really have to happen. Let's go over some of the reasons why Disney starting to cut shareholder checks isn't necessary right now.

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Source Fool.com