Dividend Coverage: This Hospitality Company has Raised Dividend for Seven Consecutive Years; Will Trade Ex-Dividend on August 23, 2017
LONDON, UK / ACCESSWIRE / August 22, 2017 /Pro-Trader Daily takes a closer look at Wyndham Worldwide Corp. (NYSE: WYN) as the Company's stock will begin trading ex-dividend on August 23, 2017. In order to capture the dividend payout, investors must purchase the stock a day prior to the ex-dividend date that is by latest by end of trading session on August 22, 2017. Are you looking for research on dividend stocks, if so register with us now for your free membership at:
Today, PRO-TD covers ex-dividend news on WYN. Get our free coverage by signing up at:
On August 02, 2017, Wyndham Worldwide announced that its Board of Directors declared a cash dividend of $0.58 per share on its common stock, payable September 08, 2017, to shareholders of record as of August 25, 2017.
Wyndham Worldwide's indicated dividend represents a yield of 2.40%, which is substantially above the average dividend yield of 2.09% for the Services sector. The Company has raised its dividend for seven consecutive years.
Wyndham Worldwide has a dividend payout ratio of 37.4%, which indicates that the Company distributes approximately $0.37 for every $1.00 earned. The dividend payout ratio reflects how much money a company is returning to shareholders versus how much money it is keeping on hand to reinvest in growth, to pay off debt, and/or to add to its cash reserves.
According to analysts' estimates, Wyndham Worldwide is forecasted to report earnings of $6.99 for the next year which is approximately triple the Company's annualized dividend of $2.32.
As of June 30, 2017, Wyndham Worldwide's cash and cash equivalents were $415 million. The Company's long-term debt was $3.7 billion. The remaining borrowing capacity on the revolving credit facility, net of commercial paper borrowings, was $1.1 billion as of June 30, 2017. For the six months ended June 30, 2017, net cash provided by operating activities was $663 million, compared with $706 million in the prior year's same period. Free cash flow was $581 million for the six months ended June 30, 2017, compared with $616 million for the same period in 2016, primarily reflecting the changes in net cash provided by operating activities. The strong financial position indicates the Company's ability to absorb any fluctuations in earnings and cash flow and to sustain its dividend distribution for a long period.
Recent Development for Wyndham
On August 15, 2017, RCI, the global leader in vacation exchange and part of the Wyndham Worldwide family of brands (WYN) announced that it added 74 new properties to its affiliate exchange network during the first half of 2017. The new affiliations include resorts in Africa, Asia, Europe, India, Latin America, the Caribbean, and North America.
In Latin America and the Caribbean, RCI added more than 30 affiliated properties, like the Sunscape Splash Montego Bay by Unlimited Vacation Club in Montego Bay, Jamaica. Additionally, RCI subscribing members now have the option to visit Sea Point, South Africa, Africa, with a stay at the Bantry Bay International Resort. RCI also saw growth in India with The Ananta Udaipur in Udaipur, Rajasthan, India. In Paphos, Cyprus, the affiliated network welcomed the Royal Blue Hotel and Spa Paphos for subscribing members to enjoy.
About Wyndham Worldwide Corp.
Wyndham Worldwide is one of the largest global hospitality companies, providing travelers with access to a collection of trusted hospitality brands in hotels, vacation ownership, and unique accommodations including vacation exchange, holiday parks, and managed home rentals. With a collective inventory of nearly 130,000 places to stay across more than 110 countries on six continents, Wyndham Worldwide and its 38,000 associates welcomes people to experience travel the way they want.
Wyndham Worldwide's share price finished yesterday's trading session at $96.62, marginally down 0.10%. A total volume of 970.48 thousand shares have exchanged hands. The Company's stock price soared 0.66% in the last three months, 13.67% in the past six months, and 34.61% in the previous twelve months. Additionally, the stock surged 26.52% since the start of the year. Shares of the Company have a PE ratio of 17.97 and have a dividend yield of 2.40%. The stock currently has a market cap of $9.87 billion.
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