Marriott Vacations Worldwide Corporation (VAC) will reinstate its quarterly dividend of 54 cents per share. Last year VAC had suspended its quarterly dividend because of COVID-19. The vacation ownership company originally had initiated a dividend in 2014.
The next VAC dividend of $0.54 per share will be paid on October 7, 2021 to shareholders of record on September 23, 2021. A new annualized dividend rate of $2.16 per share for Marriott Vacations will yield 1.4% at a stock price of $156.64. The next ex-dividend date for VAC stock is September 22, 2021.
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. The vacation ownership company initiated a dividend in 2014 and suspended the dividend in 2020 because of COVID-19.