Marriott Int'l lifts quarterly dividend by 30 pct

[May 05, 2012]  BETHESDA, Md. (AP) -- Marriott International Inc. is boosting its quarterly dividend by 30 percent to 13 cents per share from 10 cents per share.

The lodging company, whose brands include The Ritz-Carlton, Courtyard and others, said Friday that the dividend will be paid on June 22 to shareholders of record on May 18.

Last month Marriott reported that its first-quarter profit rose, aided by higher room rates and improved occupancy.

Shares of Marriott International, which is based in Bethesda, Md., fell 84 cents, or 2.1 percent, to $39.25 in morning trading. Over the past year, the stock has traded in a 52-week range of $25.49 to $40.45.

[Associated Press]

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