Marriott Vacations Hikes Dividend, Boosts Buyback

by Shivani Kumaresan, Benzinga Staff Writer

February 22, 2022 10:47 AM | 1 min read | Make a Comment

Marriott Vacations Worldwide Corp VAC board of directors has approved a 15% increase in quarterly cash dividend to $0.62 per share.
The dividend is payable on or around March 17, 2022, to shareholders of record on March 3, 2022.
Also, the company's board increased its prior authorization to repurchase common stock by $300 million.
As of February 17, 2022, the company had about $145 million of capacity remaining under its prior authorization, thus making the total remaining capacity of about $445 million.
The company held $448 million in cash and equivalents as of September 30, 2021.
Price Action: VAC shares are trading higher by 0.49% at $166.14 on the last check Tuesday.