PARSIPPANY, N.J., May 21, 2018 /PRNewswire/ -- Wyndham
Worldwide Corporation (NYSE: WYN and WYND.WI) announced today its
Board of Directors has declared a quarterly cash dividend of
$0.41 per share on its common stock,
payable June 29, 2018 to shareholders
of record as of June 15, 2018.
In addition, the Board of Directors of Wyndham Hotels &
Resorts, Inc. (NYSE: WH.WI) declared a quarterly cash dividend of
$0.25 per share on its common stock,
payable June 29, 2018 to shareholders
of record as of June 15, 2018.
The Wyndham Hotels & Resorts dividend is contingent upon the
spinoff of Wyndham Hotels & Resorts from Wyndham Worldwide,
which is scheduled to occur on the evening of May 31, 2018.
The combined amount of the two dividends is equal to the
$0.66 per share dividend Wyndham
Worldwide paid during the first quarter. As previously
announced, Wyndham Worldwide will change its name to Wyndham
Destinations, Inc. following the completion of the spin-off of
Wyndham Hotels & Resorts.
ABOUT WYNDHAM WORLDWIDE
Wyndham Worldwide (NYSE: WYN)
is one of the largest global hospitality companies, providing
travelers with access to a collection of trusted hospitality brands
in hotels, vacation ownership, and unique accommodations including
vacation exchange and managed vacation rentals. With a
collective inventory of over 22,000 places to stay across 110
countries on six continents, Wyndham Worldwide and its 39,000
associates welcome people to experience travel the way they
want. This is enhanced by Wyndham Rewards®, Wyndham
Worldwide's award-winning guest loyalty program across its
businesses, which is making it simpler for members to earn more
rewards and redeem their points faster. For more information,
please visit www.wyndhamworldwide.com.
FORWARD-LOOKING STATEMENTS
This press release
contains "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 are those that convey management's
expectations as to the future based on plans, estimates and
projections at the time Wyndham Worldwide or Wyndham Hotels &
Resorts makes the statements and may be identified by words such as
"will," "expect," believe," "plan," "anticipate," "intend," "goal,"
"future," "guidance," "estimate" and similar words or expressions,
including the negative version of such words and expressions.
Forward-looking statements involve known and unknown risks,
uncertainties and other factors, which may cause the actual
results, performance or achievements of Wyndham Worldwide, Wyndham
Hotels & Resorts or their respective subsidiaries to be
materially different from any future results, performance or
achievements expressed or implied by such forward-looking
statements. The forward-looking statements contained in this
press release include statements related to current views and
expectations of Wyndham Worldwide and Wyndham Hotels & Resorts
with respect to future dividend payments.
You are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date of this
press release. Factors that could cause actual results to
differ materially from those in the forward-looking statements
include, but are not limited to, general economic conditions; the
performance of the financial and credit markets; the economic
environment for the hospitality industry; operating risks
associated with the hotel, vacation exchange and rentals and
vacation ownership businesses; uncertainties that may delay or
negatively impact the planned spin-off of Wyndham Hotels &
Resorts as well as those risks described in Wyndham Hotels &
Resorts' Registration Statement on Form 10 initially filed with the
SEC on March 16, 2018, as amended,
Wyndham Worldwide's Annual Report on Form 10-K, filed with the SEC
on February 16, 2018, and
subsequently filed Quarterly Reports on Form 10-Q and Current
Reports on Form 8-K. We undertake no obligation to release publicly
any revisions to any forward-looking statements, to report events
or to report the occurrence of unanticipated events.
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SOURCE Wyndham Worldwide