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Choice Hotels boosts dividend 5%, expands share buyback program

Choice Hotels International Inc.'s board agreed to bump up the quarterly cash dividend by 5% to 21.5 cents per common share, up from a previous payout of 20.5 cents apiece.

The board also approved the addition of 3 million shares to the company's stock buyback program.

The increased dividend is payable Jan. 18, 2017, to shareholders of record Jan. 4, 2017.