Marriott increases share repurchase authorization by 25M shares

Marriott International announced that its board of directors declared a quarterly cash dividend of 52c per share of common stock. The dividend is payable on December 29, to shareholders of record as of the close of business on November 22. The company also announced that its board has increased the authorization to repurchase the company’s Class A common stock by an additional 25M shares, which are in addition to the approximately 7.3M shares that remained available as of October 31 for repurchase under prior authorizations. Year-to-date through October 31, the company has repurchased 18.3M shares for $3.3B.