Marriott International Declares Cash Dividend; Announces Increase In Stock
Returned Over $1 Billion in Stock Buybacks and Dividends in 2013
BETHESDA, Md., Feb. 14, 2014
BETHESDA, Md., Feb.14, 2014 /PRNewswire/ --Marriott International, Inc.
(NASDAQ: MAR) today announced that its board of directors declared a quarterly
cash dividend of seventeen cents ($0.17) per share of common stock. The
dividend is payable on March 28, 2014 to shareholders of record on February
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 34.4 million shares currently authorized
for repurchase. Shares may be purchased in the open market or in privately
In 2013, the company repurchased 20 million shares for $829 million, including
4.4 million shares for $200 million in the fourth quarter. Combined with cash
dividends of $196 million paid in 2013, the company returned over $1 billion
in cash to shareholders. To date in 2014, Marriott has repurchased nearly 4.9
million shares for approximately $238 million.
Marriott International, Inc. (NASDAQ: MAR) is a leading lodging company based
in Bethesda, Maryland, USA, with nearly 3,900 properties in 72 countries and
territories and reported revenues of nearly $12 billion in fiscal year 2012.
The company operates and franchises hotels and licenses vacation ownership
resorts under 18 brands. For more information or reservations, please visit
our website at www.marriott.com, and for the latest company news, visit
SOURCE Marriott International, Inc.
Contact: Tom Marder, (301) 380-2553, email@example.com
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