The FINANCIAL - Marriott International Declares Cash Dividend; Board Increases Stock Repurchase Authorization

Marriott International Declares Cash Dividend; Board Increases Stock Repurchase Authorization

11/02/2012 02:02 (109 Day 15:47 minutes ago)

The FINANCIAL -- Marriott International announced that its board of directors declared a quarterly cash dividend of ten cents ($0.10) per share of common stock.

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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. According to Marriott International, the company repurchased 43.4 million shares for $1.4 billion in 2011.

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