Marriott International Declares Cash Dividend; Board Increases Stock Repurchase Authorization by 35M Shares
Marriott International, Inc. (NYSE: MAR) today announced that its board of directors declared a quarterly cash dividend of ten cents ($0.10) per share of common stock. The dividend is payable on March 30, 2012 to shareholders of record on February 24, 2012.
Marriott also announced that its board has increased the authorization to repurchase the Company's Class A common stock by an additional 35 million shares, for a total of approximately 40 million shares currently authorized for repurchase. Shares may be purchased in the open market or in privately negotiated transactions. The company repurchased 43.4 million shares for $1.4 billion in 2011.
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