Marriott Announces 14 Percent Increase in Cash Dividend
Board Increases Stock Repurchase Authorization by 25 Million Shares
May 9, 2011 - Marriott International, Inc. (NYSE: MAR) announced May 6th that its Board of Directors declared a one and a quarter cent ($0.0125) increase in the company's quarterly cash dividend, to ten cents ($0.10) per share of common stock, a 14 percent increase over the previous dividend amount. The dividend is payable on June 24, 2011 to shareholders of record on May 20, 2011.
Marriott also announced that the Board has increased the authorization to repurchase the Company's Class A common stock by 25 million shares. When combined with the approximately 9 million shares remaining from the previous authorization, the company's total outstanding repurchase authorization is approximately 34 million shares. Year-to-date through May 4, 2011, the company has repurchased approximately 15 million shares for slightly more than $540 million. Shares may be purchased in the open market or in privately negotiated transactions.
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
