ORLANDO, Fla., Dec. 8, 2017 /PRNewswire/ -- Marriott Vacations Worldwide Corporation (NYSE: VAC) today announced its board of directors authorized a quarterly cash dividend of $0.40 per share of common stock, an increase of 14.2 percent over the previous quarterly dividend of $0.35 per share. The dividend is payable on January 4, 2018 to shareholders of record as of December 21, 2017.
"We are continuing to remain focused on returning excess capital to our shareholders through a balanced approach of quarterly dividends and opportunistically buying back shares. As part of this strategy, I am very pleased that we have increased our dividend by over 14 percent over our last dividend, a result of our strong capital position and company performance," said Stephen P. Weisz, president and chief executive officer.
About Marriott Vacations Worldwide Corporation
Marriott Vacations Worldwide Corporation is a leading global pure-play vacation ownership company, offering a diverse portfolio of quality products, programs and management expertise with over 65 resorts. Its brands include Marriott Vacation Club, The Ritz-Carlton Destination Club and Grand Residences by Marriott. Since entering the industry in 1984 as part of Marriott International, Inc., the company earned its position as a leader and innovator in vacation ownership products. The company preserves high standards of excellence in serving its customers, investors and associates while maintaining a long-term relationship with Marriott International. For more information, please visit www.marriottvacationsworldwide.com.
SOURCE Marriott Vacations Worldwide