Marriott International's Quarterly Cash Dividend Announcement
Marriott International, Inc. (Nasdaq: MAR) has made a significant move by declaring a quarterly cash dividend of 67 cents per share. This dividend demonstrates the company’s ongoing commitment to return value to its shareholders.
Details on the Upcoming Dividend
The newly announced dividend will be payable on September 30 to all shareholders who are on record by the close of business on August 21. With this decision, Marriott aims to strengthen its relationship with its investors by sharing its success through regular financial returns.
Expanded Share Buyback Authorization
In addition to the dividend announcement, Marriott has augmented its share buyback authorization. The company has received approval to repurchase an additional 25 million shares of its Class A common stock. This decision is an extension of the existing repurchase plan, which still had around 7.4 million shares available as of July 30.
Year-to-Date Buyback Activity
As of now, Marriott has repurchased 6.4 million shares this year, investing approximately $1.7 billion in these transactions. This proactive approach to share buybacks underlines the management’s confidence in the company’s growth trajectory and its commitment to deliver long-term benefits to shareholders.
Company Overview of Marriott International
Marriott International, Inc. (Nasdaq: MAR) operates with a global footprint, boasting over 9,600 properties under more than 30 well-known brands in 143 countries. The company’s operations extend to various hospitality sectors including hotels, residential areas, timeshares, and other forms of lodging. Beyond its diverse property portfolio, Marriott maintains its presence through the acclaimed Marriott Bonvoy®, a rewards program that enhances the travel experience for its guests.
Connecting with Marriott
For those looking to learn more about Marriott, the company encourages interested individuals to visit their official website for comprehensive information. They can also follow Marriott on social media platforms to stay updated with the latest news and updates.
Frequently Asked Questions
What is the new dividend amount declared by Marriott International?
Marriott International has declared a quarterly cash dividend of 67 cents per share.
When will the dividend be paid to shareholders?
The dividend will be payable on September 30 to shareholders who are on record as of the close of business on August 21.
How much has Marriott authorized for share buybacks?
The company has authorized an additional 25 million shares for repurchase, in addition to existing share repurchase plans.
What was the total amount spent on share buybacks this year?
Marriott has spent approximately $1.7 billion to repurchase 6.4 million shares year-to-date.
Where can investors find more information about Marriott's financial activities?
Investors can visit Marriott's investor relations website for detailed financial updates and other relevant company information.
