Marriott Vacations Worldwide Corporation Announces Increased Share Repurchase Authorization and Quarterly Cash Dividend
11 Maio 2023 - 5:54PM
Business Wire
Marriott Vacations Worldwide Corporation (NYSE: VAC) (the
"Company") today announced that its Board of Directors increased
its share repurchase authorization and declared a quarterly
dividend.
As of May 10, 2023, the Company had approximately $149 million
of capacity to repurchase common stock remaining under its prior
authorization. The Board of Directors increased this remaining
authorization to an aggregate of $600 million (including the $149
million of remaining unused capacity) and extended the repurchase
authorization through December 31, 2024.
In addition, the Board of Directors declared a quarterly cash
dividend of $0.72 per share of common stock. The dividend is
payable on or around June 8, 2023, to shareholders of record as of
the close of business on May 25, 2023.
"Today’s announcement illustrates the Board of Directors’
continued confidence in the strength of our balance sheet and our
ability to generate cash flow,” said John Geller, president &
chief executive officer. "We believe our capital allocation
strategy balances the return of cash to shareholders with company
growth and will deliver consistent value to all of our
stakeholders, including our investors, associates, owners, members
and guests."
About Marriott Vacations Worldwide Corporation
Marriott Vacations Worldwide Corporation is a leading global
vacation company that offers vacation ownership, exchange, rental
and resort and property management, along with related businesses,
products, and services. The Company has over 120 vacation ownership
resorts and approximately 700,000 owner families in a diverse
portfolio that includes some of the most iconic vacation ownership
brands. The Company also operates an exchange network and
membership programs comprised of more than 3,200 affiliated resorts
in over 90 countries and territories, and provides management
services to other resorts and lodging properties. As a leader and
innovator in the vacation industry, the Company upholds the highest
standards of excellence in serving its customers, investors and
associates while maintaining exclusive, long-term relationships
with Marriott International, Inc. and an affiliate of Hyatt Hotels
Corporation for the development, sales and marketing of vacation
ownership products and services. For more information, please visit
www.marriottvacationsworldwide.com.
Note on forward-looking statements
This press release contains “forward-looking statements” within
the meaning of federal securities laws, including statements about
expectations for future growth, cash flow and execution of the
Company’s strategy. Forward-looking statements include all
statements that are not historical facts and can be identified by
the use of forward-looking terminology such as the words “believe,”
“expect,” “plan,” “intend,” “anticipate,” “estimate,” “predict,”
“potential,” “continue,” “may,” “might,” “should,” “could” or the
negative of these terms or similar expressions. The Company
cautions you that these statements are not guarantees of future
performance and are subject to numerous and evolving risks and
uncertainties that we may not be able to predict or assess, such
as: the effects of the COVID-19 pandemic or future health crises,
including their short and longer term impacts on consumer
confidence and demand for travel, and the pace of recovery
following a future health crisis; variations in demand for vacation
ownership and exchange products and services; worker absenteeism;
price and wage inflation; global supply chain disruptions;
volatility in the international and national economy and credit
markets; impact of the current or a future banking crisis; the
ongoing war between Russia and Ukraine and related sanctions and
other measures; our ability to attract and retain our global
workforce; competitive conditions; the availability of capital to
finance growth; the impact of rising interest rates; political or
social strife; difficulties associated with implementing new or
maintaining existing technology; changes in privacy laws and other
matters referred to under the heading “Risk Factors” in our most
recent Annual Report on Form 10-K, and which may be updated in our
future periodic filings with the U.S. Securities and Exchange
Commission. All forward-looking statements in this press release
are made as of the date of this press release and the Company
undertakes no obligation to publicly update or revise any
forward-looking statement, whether as a result of new information,
future events, or otherwise, except as required by law. There may
be other risks and uncertainties that we cannot predict at this
time or that we currently do not expect will have a material
adverse effect on our financial position, results of operations or
cash flows. Any such risks could cause our results to differ
materially from those we express in forward-looking statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20230511005831/en/
Neal Goldner Investor Relations 407-206-6149
neal.goldner@mvwc.com
Cameron Klaus Global Communications 407-513-6606
cameron.klaus@mvwc.com
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