Hilton sets $1 billion share buyback program
(Reuters) - Hilton Worldwide Holdings Inc (HLT.N: Quote), 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.
(Reporting by Ankit Ajmera in Bengaluru; Editing by Sriraj Kalluvila)
© Thomson Reuters 2017 All rights reserved.