Marriott International (MAR) will raise its quarterly dividend by 17.1 percent to $0.48 per share in 2019. This follows a 24.2 percent dividend hike by the hotel company last year and marks the 10th consecutive year of double digit dividend increases.

The next dividend is payable on June 28, 2019 to shareholders of record as of May 24, 2019.  Marriott has now raised its dividend for 10 consecutive years. The new annual dividend of $1.92 per share yields 1.5% at a stock price of $131.24.

Marriott International, Inc. operates and franchises hotels and licenses vacation ownership resorts worldwide. The company's brands include Marriott, The Ritz-Carlton, Sheraton, Westin, Renaissance Hotels, Le Meridien, Autograph Collection Hotels, Delta Hotels, Bulgari, Gaylord Hotels, Courtyard, Residence Inn, Fairfield Inn & Suites, SpringHill Suites, Element Hotels and Moxy Hotels. The original Marriott Corporation was founded in 1927 and went public in 1953. Marriott International was spun off from Marriott Corporation on October 8, 1993 and Marriott Corporation then changed its name to Host Marriott Corporation. The current Marriott International was spun off again on March 27, 1998 and spun off Marriott Vacations Worldwide Corporation in 2011. In 2016 MAR acquired Starwood Hotels & Resorts Worldwide.