BETHESDA, Md., May 6, 2011 /PRNewswire/ -- Marriott International, Inc. (NYSE: MAR) today announced that its Board of Directors (the "Board") 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.
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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.
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SOURCE Marriott International, Inc.
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