Hilton Worldwide Holdings announced it will buy back $1 billion in shares, as it moves forward with a reorganization of the business.
The company will pay a quarterly dividend of 15 cents a share, the Wall Street Journal reported. It will also change its name to Hilton Inc., according to the paper.
Last October, Chinese shipping and aviation giant HNA Group bought a roughly 25 percent stake in Hilton Worldwide Holdings from Blackstone Group.
The corporate name change will come into effect on March 6, according to the paper. [WSJ] — Miriam Hall