Marriott Vacations raises dividend to boost yield above the S&P 500's, adds to stock repurchase program
Marriott Vacations Worldwide Corp. VAC, +0.12% said Tuesday it has raised its quarterly dividend by 14.8%, to 62 cents a share from 54 cents.
From the Biotech Insider archive. This article dates from Feb 22, 2022 and is preserved as first published.
Marriott Vacations Worldwide Corp. VAC, +0.12% said Tuesday it has raised its quarterly dividend by 14.8%, to 62 cents a share from 54 cents.
The new dividend is payable March 17 to shareholders of record on March 3. The vacation ownership company’s stock was still inactive in premarket trading. Based on the stock’s Friday closing price of $166.14, the new annual dividend rate implies a dividend yield of 1.49%, which compares with the implied yield for the S&P 500 SPX, -1.01% of 1.45%. Separately, the company said it increased its stock repurchase program by $300 million, which raised its current available buyback authorization to $445 million. The stock has gained 0.7% over the past three months while the S&P 500 has slipped 7.1%.
Separately, the company said it increased its stock repurchase program by $300 million, which raised its current available buyback authorization to $445 million.
