Marriott Vacations (NYSE: VAC) has initiated a quarterly dividend of $0.25 per share, or $1 annualized.

The dividend will be payable on November 12, 2014, to stockholders of record on October 28, 2014, with an ex-dividend date of October 24, 2014.

The annual yield on the dividend is 1.7 percent.

In addition, the Board of Directors authorized the company to repurchase up to 3.4 million additional shares of its common stock under its share repurchase program through March 25, 2016.

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