Marriott Vacations Hikes Dividend, Boosts Buyback

• Marriott Vacations Worldwide Corp (NYSE:VAC) board of directors has approved a 15% increase in quarterly cash dividend to $0.62 per share.
• The dividend is payable on or around March 17, 2022, to shareholders of record on March 3, 2022.
• Also, the company's board increased its prior authorization to repurchase common stock by $300 million. 
• As of February 17, 2022, the company had about $145 million of capacity remaining under its prior authorization, thus making the total remaining capacity of about $445 million.
• The company held $448 million in cash and equivalents as of September 30, 2021.
• Price Action: VAC shares are trading higher by 0.49% at $166.14 on the last check Tuesday.