Marriott Vacations Worldwide Corporation (VAC) will raise its quarterly dividend by 16.7 percent to $0.35 per share. The dividend is payable on January 4, 2017 to shareholders of record as of December 22, 2016.

"The over 15 percent increase in our dividend reflects our continued commitment to return capital to shareholders through a balanced approach of quarterly dividends and opportunistically buying back shares," said Stephen P. Weisz, president and chief executive officer. 

Marriott Vacations Worldwide Corporation is a global vacation ownership company that offers vacation ownership, exchange, rental and resort and property management, along with related businesses, products and services. It also includes exchange networks and membership programs, as well as management of other resorts and lodging properties. Its seven vacation ownership brands include Marriott Vacation Club, The Ritz-Carlton Destination Club and Grand Residences by Marriott. The company maintains exclusive, long-term relationships with Marriott International and Hyatt Hotels Corporation for the development, sales and marketing of vacation ownership products and services. Marriott Vacations has been publicly traded since November 2011, entering the industry in 1984 as part of Marriott International, Inc. (MAR). The Company operates through three segments North America, Europe and Asia Pacific.