Marriott raises quarterly dividend 33% to 40c per share

Marriott International announced that its board of directors declared a quarterly cash dividend of 40c per share of common stock, which represents a 33% increase over the previous quarterly dividend amount of 30c per share and reflects the company’s earnings growth and strong cash generation. The dividend is payable on December 30, 2022, to shareholders of record as of the close of business on November 23, 2022. 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, for a total of approximately 30.8M shares currently authorized for repurchase. Year-to-date through November 9, 2022, the company has repurchased 11.6M shares for $1.8B.