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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Hochtief AG | TG:HOT | Tradegate | Ordinary Share |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| -6.20 | -3.42% | 175.00 | 173.00 | 175.00 | 181.80 | 169.60 | 180.80 | 33,396 | 20:59:15 |
From Mar 2020 to Mar 2025
Amid a chilly economic environment Starwood Hotels & Resorts Worldwide Inc.'s (HOT) said Thursday it's unlikely to maintain its current dividend rate of 90 cents a share.
Vasant Prabhu, Starwood's chief financial officer, said during the company's fourth-quarter earnings call that based on its baseline earnings per share target of $1.10 in 2009, a 90-cent dividend would work out to a payout ratio of 80%.
"As such, it is unlikely that we will maintain our dividend," at that level, Prabhu said.
He added that if Starwood maintains a payout ratio in the 25% to 40% range, it will result in a significant dividend reduction. "Given the substantial change in market conditions, we are reviewing our dividend plans," Prabhu said.
Starwood shares were recently down 3% at $16.89.
-By A.D. Pruitt, Dow Jones Newswires; 201-938-2269; angela.pruitt@dowjones.com
Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary. You can use this link on the day this article is published and the following day.
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