Marriott International Increases Share Buyback Authorization By 25M Shares Which Are In Addition To The ~7.3M Shares That Remained Available As Of October 31, 2023 For Repurchase Under Prior Authorizations
Portfolio Pulse from Benzinga Newsdesk
Marriott International, Inc. (NASDAQ:MAR) has announced a quarterly cash dividend of 52 cents per share, payable on December 29, 2023. The company's board has also increased the authorization to repurchase the company's Class A common stock by an additional 25 million shares, in addition to the approximately 7.3 million shares available for repurchase under prior authorizations.
November 09, 2023 | 8:32 pm
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Marriott's declaration of a quarterly cash dividend and an increase in share buyback authorization could potentially boost investor confidence and positively impact the company's stock price in the short term.
Dividends and share buybacks are generally seen as positive signals by the market. Dividends provide a direct benefit to shareholders, while share buybacks can increase earnings per share and indicate that the company believes its stock is undervalued. Both actions can increase investor confidence and potentially drive up the stock price.
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IMPORTANCE 80
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