Marriott Vacations Worldwide Corporation Announces Quarterly Cash Dividend

(Neutral)

Rhea-AI Summary

Marriott Vacations Worldwide Corporation (NYSE: VAC) declared a quarterly cash dividend of $0.62 per share. This dividend will be distributed on or around October 6, 2022 to shareholders on record as of September 22, 2022. This announcement reflects the company's commitment to returning value to shareholders while maintaining its strong position in the vacation ownership market, which includes over 120 resorts and approximately 700,000 owner families globally.

Positive

Quarterly cash dividend of $0.62 per share emphasizes strong cash flow.
Dividend payment date set for October 6, 2022, suggests consistent income for shareholders.
Company maintains a robust portfolio with over 120 vacation ownership resorts.

Negative

None.

News Market Reaction – VAC

+2.47%

+2.47% Session move

In the trading session that priced this news, VAC gained 2.47%, reflecting a moderate positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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09/09/2022 - 08:05 AM

ORLANDO, Fla., Sept. 9, 2022 /PRNewswire/ -- Marriott Vacations Worldwide Corporation (NYSE: VAC) (the "Company") today announced its board of directors authorized a quarterly cash dividend of $0.62 per share of common stock. The dividend is payable on or around October 6, 2022 (the "Payment Date") to shareholders of record as of the close of business on September 22, 2022 (the "Record Date").

About Marriott Vacations Worldwide Corporation

Marriott Vacations Worldwide Corporation (NYSE:VAC) is a leading global vacation company that offers vacation ownership, exchange, rental and resort and property management, along with related businesses, products and services. The Company has over 120 vacation ownership resorts and approximately 700,000 owner families in a diverse portfolio that includes some of the most iconic vacation ownership brands. The Company also operates exchange networks and membership programs comprised of nearly 3,200 resorts in over 90 countries and territories, as well as provides management services to other resorts and lodging properties. As a leader and innovator in the vacation industry, the Company upholds the highest standards of excellence in serving its customers, investors and associates while maintaining exclusive, long-term relationships with Marriott International, Inc. and Hyatt Hotels Corporation for the development, sales and marketing of vacation ownership products and services. For more information, please visit www.marriottvacationsworldwide.com.

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SOURCE Marriott Vacations Worldwide Corporation

FAQ

What is the dividend amount announced by Marriott Vacations Worldwide Corporation?

Marriott Vacations Worldwide Corporation announced a dividend of $0.62 per share.

When will the dividend be paid to shareholders?

The dividend is payable on or around October 6, 2022.

What is the record date for the dividend payment?

The record date for the dividend payment is September 22, 2022.

How does the dividend impact shareholders of Marriott Vacations Worldwide Corporation?

The dividend provides income for shareholders, reflecting the company's commitment to returning value.