Marriott Boosts Quarterly Dividend 21%
Skift Take
In a week filled with earnings news, Marriott’s increased dividend will likely please investors the most.
The DJIA was up 125 points on Friday while Nasdaq was down 5, the S&P 500 rose 9 points and the 10 year treasury yield was up .06 to 4.50%. Lodging stocks were mixed. VCSA traded down to a new low, down -8% but SOND was up 11%, AHT was up 7% and BHR rose 6%.
Vacasa and Soho House reported 1Q results with SHCO clearly having the better report. SHCO came in modestly above expectations while VCSA missed on the top and bottom line. They announced another round of layoffs, this time affecting 13% of their workforce, mostly on the corporate and central operations side.
Marriott International upped their quarterly dividend by 21% on Friday. MAR shareholders will now receive a quarterly cash dividend of $0.63 a share.
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