Starwood Hotels & Resorts Declares Quarterly Dividend Of $0.35/Shr - Quick Facts

(RTTNews) - Starwood Hotels & Resorts Worldwide, Inc. (HOT) declared a regular quarterly dividend of $0.35 per share. The first regular quarterly dividend would be paid on March 28, 2014 to stockholders of record on March 11, 2014. Further, Starwood has realized nearly $500 million in net cash after capital expenditures from the recently completed St. Regis Bal Harbour residential project and sale of the hotel.

The company plans to return this cash to shareholders in the form of special dividends to be paid out quarterly over the next four quarters. The first special dividend of $0.65 per share would be paid on March 28, 2014 to stockholders of record on March 11, 2014.

The firm plans to continue to return cash to shareholders via. regular dividends, stock buybacks and special dividends contingent on business conditions, asset sales and other factors.