Wyndham Worldwide to triple dividend to 12 cents; restarts buybacks

Wyndham Worldwide to triple its dividend

PARSIPPANY, N.J. — Hotel operator Wyndham Worldwide Corp. said Wednesday that it tripled its quarterly dividend to 12 cents from 4 cents.

The Parsippany, N.J., company plans to start the new dividend in the first quarter.

Wyndham also said it is restarting buybacks beginning with shares under its existing $200 million stock repurchase program. The program currently has $157 million still available.

The lodging company also announced Wednesday that it moved to a fourth-quarter profit.