Marriott International Declares Cash Dividend; Board Increases Stock Repurchase Authorization
BETHESDA, Md., Feb. 15, 2013 /PRNewswire/ -- Marriott International, Inc. (NYSE: MAR) today announced that its board of directors declared a quarterly cash dividend of thirteen cents ($0.13) per share of common stock. The dividend is payable on March 29, 2013 to shareholders of record on March 1, 2013.
Marriott 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 34 million shares currently authorized for repurchase. Shares may be purchased in the open market or in privately negotiated transactions. The company repurchased 31.2 million shares for $1.2 billion in 2012.
Marriott International, Inc. (NYSE: MAR) is a leading lodging company based in Bethesda, Maryland, USA with nearly 3,800 properties in 74 countries and territories and reported revenues of over $12 billion in fiscal year 2011. The company operates and franchises hotels and licenses vacation ownership resorts under 18 brands. For more information or reservations, please visit our web site at www.marriott.com, and for the latest company news, visit www.marriottnewscenter.com.
SOURCE Marriott International, Inc.