Hilton announces $1 billion stock repurchase program, quaterly dividend and corporate name change
The Board of Directors of Hilton Worldwide Holdings Inc. (NYSE: HLT) has authorized a stock repurchase program of up to $1 billion of the Company's common stock. The Board also declared a quarterly dividend of $0.15 per share of Hilton's common stock, payable on March 31, 2017 to stockholders of record as of March 10, 2017. |
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Hilton announces $1 billion stock repurchase program, quaterly dividend and corporate name change
The Board of Directors of Hilton Worldwide Holdings Inc. (NYSE: HLT) has authorized a stock repurchase program of up to $1 billion of the Company's common stock. The Board also declared a quarterly dividend of $0.15 per share of Hilton's common stock, payable on March 31, 2017 to stockholders of record as of March 10, 2017. |
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This is a press release selected by our editorial committee and published online for free on 2017-02-27
In addition, the Company's Board of Directors has approved changing the Company's corporate name to "Hilton Inc." effective March 6, 2017. The Company's common stock will continue to trade on the New York Stock Exchange under the symbol "HLT."
Hilton may purchase shares in the open market, in privately negotiated transactions or in such other manner as determined by Hilton, including through repurchase plans complying with the rules and regulations of the Securities and Exchange Commission.
The amount and timing of any repurchases made under the stock repurchase program will depend on a variety of factors, including available liquidity, cash flow and market conditions.
The stock repurchase program does not obligate Hilton to repurchase any dollar amount or number of shares of common stock and the program may be suspended or discontinued at any time.
About Hilton
Hilton (NYSE: HLT) is a leading global hospitality company, with a portfolio of 14 world-class brands comprising more than 4,900 properties with over 800,000 rooms in 104 countries and territories. Hilton is dedicated to fulfilling its mission to be the world's most hospitable company by delivering exceptional experiences - every hotel, every guest, every time. The company's portfolio includes Hilton Hotels & Resorts, Waldorf Astoria Hotels & Resorts, Conrad Hotels & Resorts, Canopy by Hilton, Curio - A Collection by Hilton, DoubleTree by Hilton, Tapestry Collection by Hilton, Embassy Suites by Hilton, Hilton Garden Inn, Hampton by Hilton, Tru by Hilton, Homewood Suites by Hilton, Home2 Suites by Hilton and Hilton Grand Vacations. The company also manages an award-winning customer loyalty program, Hilton Honors. Hilton Honors members who book directly through preferred Hilton channels have access to instant benefits, including a flexible payment slider that allows members to choose exactly how many Points to combine with cash, an exclusive member discount that can't be found anywhere else and free standard Wi-Fi.
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