Wyndham Worldwide and Wyndham Hotels & Resorts Declare Cash Dividends
Wyndham Worldwide and Wyndham Hotels & Resorts Declare Cash Dividends |
[21-May-2018] |
PARSIPPANY, N.J., May 21, 2018 /PRNewswire/ -- Wyndham Worldwide Corporation (NYSE: WYN and WYND.WI) announced today its Board of Directors has declared a quarterly cash dividend of $0.41 per share on its common stock, payable June 29, 2018 to shareholders of record as of June 15, 2018. In addition, the Board of Directors of Wyndham Hotels & Resorts, Inc. (NYSE: WH.WI) declared a quarterly cash dividend of $0.25 per share on its common stock, payable June 29, 2018 to shareholders of record as of June 15, 2018. The Wyndham Hotels & Resorts dividend is contingent upon the spinoff of Wyndham Hotels & Resorts from Wyndham Worldwide, which is scheduled to occur on the evening of May 31, 2018.
The combined amount of the two dividends is equal to the $0.66 per share dividend Wyndham Worldwide paid during the first quarter. As previously announced, Wyndham Worldwide will change its name to Wyndham Destinations, Inc. following the completion of the spin-off of Wyndham Hotels & Resorts. ABOUT WYNDHAM WORLDWIDE FORWARD-LOOKING STATEMENTS You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Factors that could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to, general economic conditions; the performance of the financial and credit markets; the economic environment for the hospitality industry; operating risks associated with the hotel, vacation exchange and rentals and vacation ownership businesses; uncertainties that may delay or negatively impact the planned spin-off of Wyndham Hotels & Resorts as well as those risks described in Wyndham Hotels & Resorts' Registration Statement on Form 10 initially filed with the SEC on March 16, 2018, as amended, Wyndham Worldwide's Annual Report on Form 10-K, filed with the SEC on February 16, 2018, and subsequently filed Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. We undertake no obligation to release publicly any revisions to any forward-looking statements, to report events or to report the occurrence of unanticipated events.
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Company Codes: NYSE:WYN, NYSE:WH, NYSE:WYND |
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