Marriott International raises quarterly dividend by 30 per cent to 13 cents per share

BETHESDA, Md. – Marriott International Inc. is boosting its quarterly dividend by 30 per cent 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.

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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 per cent, 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.