Marriott boosts quarterly cash dividends

Marriott declares first quarter dividends

Marriott declares first quarter dividends

Marriott International, Inc. announced that its board of directors declared a quarterly cash dividend of 48 cents per share of common stock, which represents a 17 percent increase over the previous quarterly dividend amount of 41 cents per share. The dividend is payable on June 28, 2019 to shareholders of record as of May 24, 2019.

This was following the release of their first quarter report, highlights below:

  • First quarter reported diluted EPS totaled $1.09, a 6 percent decrease from prior year results. First quarter adjusted diluted EPS totaled $1.41, a 5 percent increase over first quarter 2018 adjusted results.
  • First quarter 2019 comparable systemwide constant dollar RevPAR rose 1.1 percent worldwide, 1.9 percent outside North America and 0.8 percent in North America;
  • The company added nearly 19,000 rooms during the first quarter, including roughly 3,000 rooms converted from competitor brands and approximately 8,000 rooms in international markets;
  • At quarter-end, Marriott’s worldwide development pipeline totalled nearly 2,900 hotels and approximately 475,000 rooms, including roughly 25,000 rooms approved, but not yet subject to signed contracts;
  • First quarter reported net income totalled $375 million, an 11 percent decrease from prior year results. First quarter adjusted net income totalled $482 million, a 1 percent decrease from prior year adjusted results;
  • Adjusted EBITDA totalled $821 million in the quarter, a 7 percent increase over first quarter 2018 adjusted EBITDA;
  • Marriott repurchased 6.7 million shares of the company’s common stock for $828 million during the first quarter. Year-to-date through May 8, the company has repurchased 8.1 million shares for $1.02 billion.

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