[stock]MAR|1m|Right|Marriott up following announcement[/stock]
Marriott International has announced its board of directors have declared a quarterly cash dividend of ten cents ($0.10) per share of common stock.
The dividend is payable on March 30th, 2012 to shareholders of record on February 24th, 2012.
Marriott also announced that its board has increased the authorisation to repurchase the Company’s Class A common stock by an additional 35 million shares.
This will result in a total of approximately 40 million shares currently authorised for repurchase.
Shares may be purchased in the open market or in privately negotiated transactions.
The company repurchased 43.4 million shares for $1.4 billion in 2011.