Marriott International Announces Increase in Cash Dividend and New Board Member
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Marriott International Announces Increase in Cash Dividend and New Board Member
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This is a press release selected by our editorial committee and published online for free on 2008-05-05
Marriott International, Inc. (NYSE: MAR) announced today that its board of directors has declared a one and one-quarter cent ($0.0125) increase in the company’s quarterly dividend from 7.50 cents ($0.0750) to 8.750 cents ($0.0875) per share of common stock, an increase of nearly 17 percent.
The dividend is payable Aug 1, 2008 to shareholders of record as of June 26, 2008. The company and its predecessors (old Marriott International, Inc. and Marriott Corporation) have paid a dividend in every quarter since late 1977.
The company also announced that Mary K. Bush has joined Marriott’s board of directors after her election by shareholders today. Ms. Bush has served as the president of Bush International, which advises U.S. corporations and foreign governments on international financial markets, banking and economics matters, since 1991. Among the numerous high-level and distinguished positions she has held, Ms. Bush served as the U.S. Government’s representative on the International Monetary Fund Board, head of the federal home Loan Bank System and a Board member of Sallie Mae.
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