Marriott International Declares an Increase in Quarterly Cash Dividend and Increases Share Buyback Authorization
Marriott International (NASDAQ: MAR) declared a quarterly cash dividend of 40 cents per share, up 33% from the previous 30 cents. This dividend reflects the company's strong earnings growth and cash generation, payable on December 30, 2022.
In addition, Marriott has increased its share buyback authorization by 25 million shares, totaling approximately 30.8 million shares. Year-to-date, the company repurchased 11.6 million shares for $1.8 billion.
- 33% increase in quarterly cash dividend, indicating strong earnings growth.
- Total buyback authorization increased to 30.8 million shares, enhancing shareholder value.
- None.
BETHESDA, Md., Nov. 10, 2022 /PRNewswire/ -- Marriott International, Inc., (NASDAQ: MAR) today announced that its board of directors declared a quarterly cash dividend of 40 cents per share of common stock, which represents a 33 percent increase over the previous quarterly dividend amount of 30 cents per share and reflects the company's earnings growth and strong cash generation. The dividend is payable on December 30, 2022, to shareholders of record as of the close of business on November 23, 2022. The company also announced that its board has increased the authorization to repurchase the company's Class A common stock by an additional 25 million shares, for a total of approximately 30.8 million shares currently authorized for repurchase. Year-to-date through November 9, 2022, the company has repurchased 11.6 million shares for
Marriott International, Inc., (NASDAQ: MAR) is based in Bethesda, Maryland, USA, and encompasses a portfolio of nearly 8,200 properties under 30 leading brands spanning 138 countries and territories. Marriott operates and franchises hotels and licenses vacation ownership resorts all around the world. The company offers Marriott Bonvoy®, its highly awarded travel program. 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.
Marriott encourages investors, the media, and others interested in the company to review and subscribe to the information Marriott posts on its investor relations website at www.Marriott.com/Investor or Marriott's news center website at www.MarriottNewsCenter.com, which may be material. The contents of these websites are not incorporated by reference into this press release or any report or document Marriott files with the SEC, and any references to the websites are intended to be inactive textual references only.
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SOURCE Marriott International, Inc.
