World Wrestling Entertainment (WWE) disappointed the street today with revenues that fell 6% to $129.7 million. Part of the problem was a 16% drop in live and televised entertainment businesses sales. The company did well internationally with two successful tours in Europe and Australia.

Expenses were a big drag on earnings results, rising 50% from last year. Management cited increased legal and professional fees and staff-related costs. WWE shares are having a decent year so far, up about 10%.

We still like WWE shares at their current levels, and think the company has a solid franchise that can continue to draw in new viewers. WWE has a juicy dividend yield of 8.49%, based on last night’s closing stock price of $16.96. We would be small buyers of the stock on any drops below $14.

World Wrestling Entertainment (WWE) is a “Recommended” dividend stock, holding a Dividend.com Rating of 3.6 out of 5 stars.