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Starwood Hotels & Resorts Worldwide Announces Quarterly Dividend and Special Dividend

May 5, 2014 Financial No Comments Email Email

Starwood Hotels & Resorts Worldwide, Inc. last week declared a regular quarterly dividend of $0.35 per share. The regular quarterly dividend will be paid on June 27, 2014 to stockholders of record on June 6, 2014.

In addition, Starwood declared a special dividend of $0.65 per share. The special dividend will be paid on June 27, 2014 to stockholders of record as of June 6, 2014. This is the second special dividend to be paid to stockholders in connection with the previously announced realization of approximately $500 million in net cash after capital expenditures from the completion of the St. Regis Bal Harbour residential project and sale of the hotel. The Company intends to continue to return this cash through special dividends to stockholders over the next two quarters.

The Company intends to continue returning cash to stockholders through regular dividends, special dividends and stock buybacks and intends to utilize the approximately $614 million that remains available under the Company’s share repurchase authorization by the end of 2014.

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