Hilton’s Board of Directors has authorized a stock repurchase of up to $1 billion of the company's common stock.
MCLEAN, Va. - 24 February 2017 - 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. 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.
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