MARRIOTT INTERNATIONAL DECLARES QUARTERLY CASH DIVIDEND AND INCREASES SHARE BUYBACK AUTHORIZATION

Rhea-AI Summary

Marriott International, Inc. (MAR) announces a quarterly cash dividend of 52 cents per share and an increase in the authorization to repurchase Class A common stock by an additional 25 million shares. Year-to-date through October 31, the company has repurchased 18.3 million shares for $3.3 billion. The announcement reflects Marriott's commitment to returning value to shareholders and confidence in its financial position and future prospects.

Positive

• Marriott demonstrates financial strength by repurchasing 18.3 million shares for $3.3 billion year-to-date.
• Increase in share buyback authorization signals confidence in the company's future prospects.

Negative

• None.

BETHESDA, Md., Nov. 9, 2023 /PRNewswire/ -- Marriott International, Inc. (Nasdaq: MAR) today announced that its board of directors declared a quarterly cash dividend of 52 cents per share of common stock. The dividend is payable on December 29, 2023, to shareholders of record as of the close of business on November 22, 2023. 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, which are in addition to the approximately 7.3 million shares that remained available as of October 31, 2023 for repurchase under prior authorizations. Year-to-date through October 31, the Company has repurchased 18.3 million shares for $3.3 billion.

Marriott International, Inc. (NASDAQ: MAR) is based in Bethesda, Maryland, USA, and encompasses a portfolio of nearly 8,700 properties across more than 30 leading brands in 139 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 X 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.

FAQ

What is the quarterly cash dividend declared by Marriott International, Inc. (MAR)?

Marriott International, Inc. (MAR) declared a quarterly cash dividend of 52 cents per share of common stock.

What is the new authorization for repurchasing the company's Class A common stock?

Marriott International, Inc. (MAR) increased the authorization to repurchase the Company's Class A common stock by an additional 25 million shares.

Where can I find more information about Marriott International, Inc. (MAR)?

You can find more information about Marriott International, Inc. (MAR) on their website at www.marriott.com and www.marriottnewscenter.com.

How many properties does Marriott International, Inc. (MAR) have across the world?

Marriott International, Inc. (MAR) encompasses a portfolio of nearly 8,700 properties across more than 30 leading brands in 139 countries and territories.