Mattel lifts dividend 35%; shares gain 6%

SAN FRANCISCO (MarketWatch) -- Mattel shares rose almost 6% to $31.20 early Tuesday after the world's No. 1 toymaker raised its annual dividend 35% to $1.24 a share from 92 cents a share. A quarterly dividend of 31 cents will be paid March 9 to stockholders of record on Feb. 23. The Barbie and Hot Wheels maker also said fourth-quarter net income rose 14% to $370.6 million from the same 2010 period, beating analyst expectations. Sales inched up 1% to $2.15 million. Mattel appears to have fared better than rivals Hasbro and Jakks Pacific during the 2011 holiday season. Citing NPD data, Mattel said it had four of the top five selling toy properties. Mattel shares, trading at five-year and 52-week highs, are up 32% over the last 12 months.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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