Printer Friendly

MARRIOTT ANNOUNCES RESULTS OF PREFERRED STOCK CONVERSION

 WASHINGTON, Oct. 1 /PRNewswire/ -- Marriott Corporation (NYSE: MHS) said today that, as of the close of business on Sept. 30, approximately 92 percent or 3,673,634 of the 4,000,000 depositary shares representing its publicly held Series A cumulative convertible preferred stock had converted into 10,556,419 shares of the company's common stock. As a result, the common shares issued upon conversion will participate in Marriott's previously announced special dividend, to be made on Oct. 8, 1993 to shareholders of record at the close of business on Sept. 30, 1993.
 Under terms of the special dividend, company shareholders will receive one common share of Marriott International, Inc., a lodging and services management company, for each share they own in Marriott Corporation. Marriott Corporation will be renamed Host Marriott Corporation, and will own hotels and retirement communities, and operate airport and tollroad concessions. Shares of both companies will be traded on the New York Stock Exchange.
 -0- 10/1/93
 /CONTACT: Robert T. Souers, Marriott Corporation, 301-380-1339/
 (MHS)


CO: Marriott Corporation ST: District of Columbia IN: LEI SU: RCN

MH-DS -- DC005 -- 7618 10/01/93 07:35 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Oct 1, 1993
Words:190
Previous Article:KING FEATURES' CARTOONS TREAT WHITE CASTLE LIKE ROYALTY
Next Article:CU BANCORP SIGNS LETTER OF INTENT TO SELL CERTAIN MORTGAGE BANKING ASSETS
Topics:

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters