ORLANDO, Fla .– (BUSINESS WIRE) – November 11, 2021–
The board of directors of Travel + Leisure Co. (NYSE: TNL) declared a regular cash dividend on the company’s common shares, raising the quarterly dividend rate to $ 0.35 per share, from $ 0.30 per share. The dividend is payable on December 30, 2021 to shareholders of record on December 15, 2021.
On an annualized basis, the dividend increases to $ 1.40 per share, up nearly 17% from the previous annualized level of $ 1.20 per share.
“The continued payment of a dividend throughout the pandemic has demonstrated our confidence in the resilience of this business and its ability to generate free cash flow,” said Mike Hug, CFO of Travel + Leisure Co. “ The dividend increase announced today reflects the strategy we shared on our Investor Day in September to deploy additional free cash flow to increase returns for our shareholders. “
About Travel + Leisure Co.
Travel + Leisure Co. is the world’s leading leisure and membership travel company, with nearly 20 travel brands in its portfolio of resorts, travel clubs and lifestyle. The company delivers exceptional 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 locations around the world; Panorama, the world’s largest subscription travel company that includes the world’s largest vacation exchange company, leading travel technology and subscription travel brands; and Travel + Leisure Group, featuring premier travel content, travel services including the eponymous brand travel club, and branded consumer products. At Travel + Leisure Co., our global team of associates provide hospitality to millions of people each year, turning vacation inspiration into exceptional travel experiences. We put everyone on vacation. Learn more about voyageandloisirs.com.
This press release includes “forward-looking statements” as that term is defined by the Securities and Exchange Commission (“SEC”). Forward-looking statements are all 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”, “plans”, ” estimate “,” predicted “,” potential “,” continue “,” future “or other words with similar meaning. Forward-looking statements are subject to risks and uncertainties which could cause the 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 could cause such a difference include those factors described as risks under the heading “Risk Factors” in our filings with the SEC, including in Part I, Section 1A. of our Annual Report on Form 10-K for the fiscal year ended December 31, 2020, filed with the SEC on February 24, 2021. We caution readers that these statements are based on currently available operational, financial and competitive information, and that they should not place undue reliance on these forward-looking statements, which represent the opinion of management only as of the date on which they were made. Except as required by law, we assume no obligation to review or update these forward-looking statements to reflect events or circumstances as they occur.
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KEYWORD: UNITED STATES NORTH AMERICA FLORIDA
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SOURCE: Travel + Leisure Co.
Copyright Business Wire 2021.
PUB: 11/11/2021 16:30 / DISC: 11/11/2021 16:30
Copyright Business Wire 2021.