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Marriott Vacations Worldwide Corporation (NYSE: VAC) has announced a quarterly cash dividend of $0.72 per share, reflecting a 16% increase from the previous dividend. The dividend is scheduled for payment on or around January 5, 2023, to shareholders on record as of December 22, 2022. CEO Stephen P. Weisz expressed confidence in the company's business model and cash flow strength, highlighting optimism for future growth.
Positive
Quarterly cash dividend increased by 16% to $0.72 per share.
Confidence in business model and cash flow strength.
Positive outlook for future growth.
Negative
None.
ORLANDO, Fla.--(BUSINESS WIRE)--
Marriott Vacations Worldwide Corporation (NYSE: VAC) today announced its Board of Directors authorized a quarterly cash dividend of $0.72 per share of common stock, an increase of 16% over the Company’s prior dividend.
“We are pleased that our Board of Directors approved an increase in our quarterly dividend,” said Stephen P. Weisz, chief executive officer. “Today’s announcement reflects the confidence in the resiliency of our business model, the strength of our cash flows and belief in our future growth.”
The dividend is payable on or around January 5, 2023, to shareholders of record as of the close of business on December 22, 2022.
About Marriott Vacations Worldwide Corporation
Marriott Vacations Worldwide Corporation (NYSE:VAC) is a leading global vacation company that offers vacation ownership, exchange, rental and resort and property management, along with related businesses, products and services. The Company has over 120 vacation ownership resorts and approximately 700,000 owner families in a diverse portfolio that includes some of the most iconic vacation ownership brands. The Company also operates exchange networks and membership programs comprised of nearly 3,200 resorts in over 90 countries and territories and provides management services to other resorts and lodging properties. As a leader and innovator in the vacation industry, the Company upholds the highest standards of excellence in serving its customers, investors and associates while maintaining exclusive, long-term relationships with Marriott International, Inc. and Hyatt Hotels Corporation for the development, sales and marketing of vacation ownership products and services. For more information, please visit www.marriottvacationsworldwide.com.
