Bluegreen Vacations Declares Fourth Quarter 2019 Dividend
October 31 2019 - 7:00PM
Business Wire
BBX Capital Corporation (NYSE: BBX) (OTCQX: BBXTB) ("BBX
Capital"), announced that Bluegreen Vacations Corporation (NYSE:
BXG), which is 90% owned by BBX Capital, issued the following press
release. Please see the Bluegreen press release below.
BBX Capital Corporation Investor Relations Contact: Leo
Hinkley, Managing Director, Investor Relations Officer Phone:
954-940-5300 Email: LHinkley@BBXCapital.com
---------
Bluegreen Vacations Declares Fourth Quarter
2019 Dividend
BOCA RATON, FL – (BUSINESS WIRE) – October 31, 2019 – Bluegreen
Vacations Corporation (NYSE: BXG) (“Bluegreen Vacations” or “the
Company”) announced today that its Board of Directors declared a
quarterly common stock cash dividend of $0.13 per share. The
dividend is payable November 27, 2019 to shareholders of record as
of the close of trading on November 13, 2019 and represents an
adjustment from the $0.17 per share dividend paid during previous
quarters.
In light of the challenges the Company has faced over the last
twelve months and the Company’s current earnings and EBITDA, the
Board, with the recommendation of management, made a determination
that it was appropriate to adjust the dividend while continuing to
offer shareholders an attractive return. The Company remains
focused on investing in its growth initiatives and providing cash
returns to its shareholders.
About Bluegreen Vacations Corporation:
Bluegreen Vacations Corporation (NYSE: BXG) is a leading
vacation ownership company that markets and sells vacation
ownership interests (VOIs) and manages resorts in popular leisure
and urban destinations. The Bluegreen Vacation Club is a flexible,
points-based vacation ownership plan with approximately 219,000
owners, 69 Club and Club Associate Resorts and access to nearly
11,400 other hotels and resorts through partnerships and exchange
networks as of September 30, 2019. Bluegreen Vacations also offers
a portfolio of comprehensive, fee-based resort management,
financial, and sales and marketing services, to or on behalf of
third parties. Bluegreen is approximately 90% owned by BBX Capital
Corporation (NYSE: BBX) (OTCQX: BBXTB), a diversified holding
company. For further information, visit www.BluegreenVacations.com.
About BBX Capital Corporation:
BBX Capital Corporation (NYSE: BBX) (OTCQX: BBXTB), is a
Florida-based diversified holding company whose activities include
its approximate 90% ownership interest in Bluegreen Vacations
Corporation (NYSE: BXG) as well as its real estate and middle
market divisions. For additional information, please visit
www.BBXCapital.com.
Forward-Looking Statements:
Certain matters within this press release include
“forward–looking statements” within the meaning of Section 27A of
the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. Forward-looking
statements may involve known and unknown risks, uncertainties and
other factors that may cause the actual results or performance to
differ from those projected in the forward-looking statements,
including but not limited to, the risk that quarterly dividend
payments may not be declared at the current annualized amount, in
the future or on a regular basis, or as anticipated, if at all and
risks associated with the Company’s future progress and
performance. For a description of risks relating to the payment of
dividends as well as other risks and uncertainties, please review
the “Risk Factors” section and other information contained in the
Company’s Annual Report on Form 10-K for the year ended December
31, 2018, filed with the Securities and Exchange Commission, which
are available on the SEC's website, https://www.sec.gov,and on
Bluegreen’s website, www.bluegreenvacations.com
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version on businesswire.com: https://www.businesswire.com/news/home/20191031005934/en/
Bluegreen Vacations Corporation Investor Relations: Nikki Sacks,
203-682-8263 or Evelyn Infurna, 203-682-8265 Email:
bluegreenvac@icrinc.com
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