Marriott Int'l lifts quarterly dividend by 30 pct.

AP News
|
Posted: May 04, 2012 11:56 AM
Marriott Int'l lifts quarterly dividend by 30 pct.

Marriott International Inc. is boosting its quarterly dividend by 30 percent to 13 cents per share from 10 cents per share.

The lodging company, whose brands include The Ritz-Carlton, Courtyard and others, said Friday that the dividend will be paid on June 22 to shareholders of record on May 18.

Last month Marriott reported that its first-quarter profit rose, aided by higher room rates and improved occupancy.

Shares of Marriott International, which is based in Bethesda, Md., fell 84 cents, or 2.1 percent, to $39.25 in morning trading. Over the past year, the stock has traded in a 52-week range of $25.49 to $40.45.