Marriott Vacations Worldwide (VAC) Raises Quarterly Dividend 16.7% to $0.35; Changes Fiscal Year

Marriott Vacations Worldwide (NYSE: VAC) declared a quarterly dividend of $0.35 per share, or $1.4 annualized. This is a 16.7% increase from the prior dividend of $0.30.

The dividend will be payable on January 4, 2017, to stockholders of record on December 22, 2016, with an ex-dividend date of December 20, 2016.

The annual yield on the dividend is 1.6 percent.

"The over 15 percent increase in our dividend reflects our continued commitment to return capital to shareholders through a balanced approach of quarterly dividends and opportunistically buying back shares," said Stephen P. Weisz, president and chief executive officer.

The Board also approved a resolution changing the company's fiscal year to a calendar year-end beginning with 2017. The company believes these changes will allow the simplification of transaction and reporting processes to support future growth. The company will not restate historical results as a part of this change. The company's fiscal year 2017 will begin on December 31, 2016 and will end on December 31, 2017.

For a dividend history and other dividend-related data on Marriott Vacations Worldwide (VAC) click here.

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