Marriott Vacations (VAC) will raise its quarterly dividend by 14.3 percent to $0.40 per share in the fourth quarter of 2017. This follows a 16.7 percent dividend hike by VAC in 2016.

The dividend is payable on January 4, 2018 to shareholders of record as of December 21, 2017. The new dividend yield for VAC is 1.2%.

"We are continuing to remain focused on returning excess capital to our shareholders through a balanced approach of quarterly dividends and opportunistically buying back shares. As part of this strategy, I am very pleased that we have increased our dividend by over 14 percent over our last dividend, a result of our strong capital position and company performance," 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.