BETHESDA, Md., Aug 06, 2009 /PRNewswire-FirstCall via COMTEX News Network/ -- Marriott International, Inc., "Marriott," (NYSE: MAR) today announced that its board of directors has declared the issuance of a stock dividend of 0.00379 per share of common stock for each outstanding share of common stock of the company, payable on September 3, 2009 to shareholders of record on August 20, 2009. Marriott currently has approximately 354 million shares of common stock outstanding.
In lieu of fractional shares, cash will be distributed to each shareholder who would otherwise have been entitled to receive a fractional share, based on a share price of $23.10, which is the average of the high and low share price on August 5, 2009.
Shareholders will not be required to take any action in order to receive the stock dividend. After the payment date, shareholders' book entry accounts will be credited with the additional shares representing the stock dividend. Where shares are held in a brokerage account in the name of a broker, the additional shares will be distributed to the broker on the shareholder's behalf. The stock dividend is administered by BNY Mellon Shareowner Services, the company's transfer agent.
MARRIOTT INTERNATIONAL, Inc. (NYSE: MAR) is a leading lodging company with more than 3,200 lodging properties in 67 countries and territories. The company is headquartered in Bethesda, Maryland, USA, and had approximately 146,000 employees at 2008 year-end. It is recognized by BusinessWeek as one of the 100 best global brands, by FORTUNE(R) as one of the best companies to work for, and by the U.S. Environmental Protection Agency (EPA) as Partner of the Year since 2004. In fiscal year 2008, Marriott International reported sales from continuing operations of nearly $13 billion. For more information or reservations, please visit our web site at www.marriott.com. For an interactive online version of Marriott's 2008 Annual Report, which includes a short video message from Chairman and CEO J.W. Marriott, Jr., visit www.marriott.com/investor.
SOURCE Marriott International, Inc.
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