Marriott International Declares Cash Dividend and Increases Share Buyback Authorization
BETHESDA, Md., Nov. 9, 2017 /PRNewswire/ — Marriott International, Inc. (NASDAQ: MAR) today announced that its board of directors declared a quarterly cash dividend of 33 cents per share of common stock. The dividend is payable on December 29, 2017 to shareholders of record as of November 22, 2017.
Marriott also announced that its board has increased the authorization to repurchase the Company’s Class A common stock by an additional 30 million shares, for a total of approximately 37.5 million shares currently authorized for repurchase. Shares may be purchased in the open market or in privately negotiated transactions. Year to-date the company has repurchased 23.9 million shares for $2.4 billion.
Marriott International, Inc. (NASDAQ: MAR) is based in Bethesda, Maryland, USA, and encompasses a portfolio of more than 6,400 properties in 30 leading hotel brands spanning 126 countries and territories. Marriott operates and franchises hotels and licenses vacation ownership resorts all around the world. The company also operates award-winning loyalty programs: Marriott Rewards®, which includes The Ritz-Carlton Rewards®, and Starwood Preferred Guest®. For more information, please visit our website at www.marriott.com, and for the latest company news, visit www.marriottnewscenter.com. In addition, connect with us on Facebook and @MarriottIntl on Twitter and Instagram.
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SOURCE Marriott International, Inc.