Travel + Leisure Co. Increases Cash Dividend for Second Quarter in a Row
March 02 2022 - 4:30PM
Business Wire
The board of directors of Travel + Leisure Co. (NYSE:TNL)
declared a regular cash dividend on the company's common stock,
increasing the quarterly dividend rate to $0.40 per share, up from
$0.35 per share. The dividend is payable March 31, 2022 to
shareholders of record as of March 15, 2022.
On an annualized basis, the dividend increases to $1.60 per
share, up over 33 percent from the annualized level of $1.20 per
share that was in place one year ago.
“We ended 2021 with increased return of capital to shareholders
and we are pleased that the strength of the business has allowed us
to increase the dividend once again in 2022,” said Mike Hug, chief
financial officer of Travel + Leisure Co. “We are excited about the
foundation we have laid for future growth, and the opportunities we
have ahead of us.”
About Travel + Leisure
Co.
Travel + Leisure Co. (NYSE:TNL) is the world’s leading
membership and leisure travel company, with nearly 20 travel brands
across its resort, travel club, and lifestyle portfolio. The
company provides outstanding vacation experiences and travel
inspiration to millions of owners, members, and subscribers every
year through its products and services: Wyndham Destinations, the
largest vacation ownership company with more than 245 vacation club
resort locations across the globe; Panorama, the world’s foremost
membership travel business that includes the largest vacation
exchange company and subscription travel brands; and Travel +
Leisure Group, featuring top travel content and travel services
including the brand’s eponymous travel club. At Travel + Leisure
Co., our global team of associates brings hospitality to millions
each year, turning vacation inspiration into exceptional travel
experiences. We put the world on vacation. Learn more at
travelandleisureco.com.
Forward-Looking
Statements
This press release includes “forward-looking statements” as that
term is defined by the Securities and Exchange Commission (“SEC”).
Forward-looking statements are any statements other than statements
of historical fact, including statements regarding our
expectations, beliefs, hopes, intentions or strategies regarding
the future. In some cases, forward-looking statements can be
identified by the use of words such as “may,” “will,” “expects,”
“should,” “believes,” “plans,” “anticipates,” “estimates,”
“predicts,” “potential,” “continue,” “future,” “ahead” or other
words of similar meaning. Forward-looking statements are subject to
risks and uncertainties that could cause actual results of Travel +
Leisure Co. and its subsidiaries to differ materially from those
discussed in, or implied by, the forward-looking statements.
Factors that might cause such a difference include, but are not
limited to, risks associated with the acquisition of the Travel +
Leisure brand and the future prospects and plans for Travel +
Leisure Co., including our ability to execute our strategies to
grow our cornerstone timeshare and exchange businesses and expand
into the broader leisure travel industry through new business
extensions; the timing and amount of future dividends and share
repurchases, if any; and those factors disclosed as risks under
“Risk Factors” in documents we have filed with the SEC, including
in Part I, Item 1A. of our Annual Report on Form 10-K for the
fiscal year ended December 31, 2021, filed with the SEC on February
23, 2022. We caution readers that any such statements are based on
currently available operational, financial and competitive
information, and they should not place undue reliance on these
forward-looking statements, which reflect management’s opinion only
as of the date on which they were made. Except as required by law,
we undertake no obligation to review or update these
forward-looking statements to reflect events or circumstances as
they occur.
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version on businesswire.com: https://www.businesswire.com/news/home/20220302006069/en/
Investor Contact: Christopher Agnew Senior Vice
President, FP&A and Investor Relations (407) 626-4050
Christopher.Agnew@travelandleisure.com
Media Contact: Steven Goldsmith Public Relations (407)
626-5882 Steven.Goldsmith@travelandleisure.com
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