Marriott International (MAR) will hike its dividend by 33.3% to 40 cents quarterly per share. Earlier this year MAR reinstated its quarterly dividend in 2022 with a 30 cent per share payment vs $0.48 per share in 2019. The dividend was suspended in 2020 during the covid-19 pandemic. The dividend yield for MAR is 1.0% at a stock price of $162.
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.