Bluegreen Vacations Declares Special Cash Dividend
July 22 2020 - 4:05PM
Business Wire
Bluegreen Vacations Corporation (NYSE: BXG) (“Bluegreen
Vacations” or “the Company”) announced today that its Board of
Directors declared a special cash dividend on its common stock of
$1.19 per share. The dividend is payable August 21, 2020 to
shareholders of record as of the close of trading on August 6,
2020.
In connection with the special dividend, the Company obtained an
undertaking from BBX Capital Corporation to utilize the proceeds of
the special dividend to repay BBX Capital’s outstanding $80 million
debt owed to the Company.
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 221,000
owners, 68 Club and Club Associate Resorts and access to more than
11,350 other hotels and resorts through partnerships and exchange
networks as of March 31, 2020. 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 93% 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 93% 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 dividends may not be
declared in the future on a special or regular basis, 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/20200722005853/en/
Bluegreen Vacations Corporation Investor Relations: Leo Hinkley
954-940-5336 Email: Leo.Hinkley@BluegreenVacations.com
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