Tags: Hilton | Share | Buyback | Change Name

Hilton Sets $1 Billion Share Buyback Program, Will Change Name

Image: Hilton Sets $1 Billion Share Buyback Program, Will Change Name

 (AP)

Friday, 24 Feb 2017 09:43 AM

Hilton Worldwide Holdings Inc., owner of the Waldorf Astoria hotel chain, said on Friday it would buy back up to $1 billion of its shares, and that it would change its corporate name to "Hilton Inc.," effective March 6.

Last week, Hilton reaffirmed its 2017 forecast for a key revenue metric and said it felt more confident about achieving it, as U.S. economic growth gains steam.

Hilton's board also declared a quarterly dividend of 15 cents per share, payable on March 31.

The Conrad and Double Tree hotels owner paid a dividend of 7 cents per share in December.

Based on Thursday's closing price of $57.21, Hilton can purchase up to 17.5 million shares, or 5.3 percent of its total outstanding shares as of Feb. 7. 

© 2017 Thomson/Reuters. All rights reserved.

 
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Hilton Worldwide Holdings Inc., owner of the Waldorf Astoria hotel chain, said on Friday it would buy back up to $1 billion of its shares, and that it would change its corporate name to "Hilton Inc.," effective March 6.
Hilton, Share, Buyback, Change Name
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2017-43-24
Friday, 24 Feb 2017 09:43 AM
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