Business News first on FIR:
LINCOLNSHIRE, IL–()–Camping World Holdings, Inc. (NYSE:CWH) (“Camping World” or the “Company”), America’s leading recreational vehicle and outdoor retailer, today announced that its Board of Directors has approved a 75% increase in the Company’s quarterly special dividend paid to holders of the Company’s Class A Common Stock from $0.08 per share to $0.14 per share, an increase of $0.06 per share on a quarterly basis and $0.24 per share on an annualized basis. The quarterly special dividend represents a portion of excess tax distributions made by CWGS Enterprises, LLC to the Company.
When combined with the Company’s regular quarterly dividend of $0.09 per share, holders of the Company’s Class A Common Stock are expected to receive a total of $0.92 per share in annual dividends.
Marcus Lemonis, Chairman and Chief Executive Officer stated, “This dividend increase is a reflection of our strong financial and cash position, our performance and the continued confidence in our abilities to generate long-term profitable growth and return capital to our shareholders.”
Future declarations of regular quarterly and quarterly special dividends are subject to the determination and discretion of Camping World’s Board of Directors based on its consideration of various factors, including the Company’s results of operations, financial condition, level of indebtedness, anticipated capital requirements, contractual restrictions, restrictions in its debt agreements, restrictions under applicable law, its business prospects and other factors that Camping World’s Board of Directors may deem relevant.
About Camping World Holdings, Inc.
Camping World Holdings, headquartered in Lincolnshire, Illinois, is America’s leading recreational vehicle and outdoor retailer, offering an extensive assortment of recreational vehicles for sale, RV and camping gear, RV maintenance and repair, other outdoor and active sports products, and the industry’s broadest and deepest range of services, protection plans, products and resources. Since the Company’s founding in 1966, Camping World has grown to become one of the most well-known destinations for everything RV, with more than 160 locations in 36 states and a comprehensive e-commerce platform. For more information, visit www.CampingWorld.com.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 concerning Camping World and other matters. All statements other than statements of historical facts contained in this press release may be forward-looking statements. Statements regarding our future results of operations and financial position, our capital return strategy, and expected dividend payments are forward-looking statements. In some cases, you can identify forward-looking statements by terms such as ‘‘may,’’ ‘‘will,’’ ‘‘should,’’ ‘‘expects,’’ ‘‘plans,’’ ‘‘anticipates,’’ ‘‘could,’’ ‘‘intends,’’ ‘‘targets,’’ ‘‘projects,’’ ‘‘contemplates,’’ ‘‘believes,’’ ‘‘estimates,’’ ‘‘predicts,’’ ‘‘potential’’ or ‘‘continue’’ or the negative of these terms or other similar expressions. The forward-looking statements in this press release are only predictions. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our business, financial condition and results of operations. Forward-looking statements involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. You should carefully consider the risks and uncertainties that affect our business, including the important factors discussed under the caption “Risk Factors” in our Annual Report on Form 10-K filed for the year ended December 31, 2019, as updated in our Quarterly Report on Form 10-Q for the quarter ended June 30, 2020, and our other reports filed with the SEC. These forward-looking statements speak only as of the date of this communication. Except as required by applicable law, we do not plan to publicly update or revise any forward-looking statements, whether as a result of any new information, future events or otherwise. You are advised, however, to consult any further disclosures we make on related subjects in our public announcements and filings with the Securities and Exchange Commission.