Camping World Holdings Announces 8.69% Increase in Dividend to $1.00 Per Share on Annualized Basis
Camping World Holdings, Inc. (NYSE: CWH) (“Camping World” or the “Company”), America’s Recreation Dealer, today announced that its Board of Directors has approved an increase in the Company’s quarterly dividend paid to holders of the Company’s Class A common stock from $0.23 per share to $0.25 per share on a quarterly basis, an increase of $0.02 per share per quarter and $0.08 per share on an annualized basis.
As increased, the CWH Class A common stock cash dividend would be comprised of a regular quarterly cash dividend of $0.10 per share funded by a $0.10 per common unit cash distribution by CWGS Enterprises, LLC to all holders of its common units, and a $0.15 per share regular quarterly cash dividend representing a portion of excess tax distributions from CWGS Enterprises, LLC to holders of its common units.
Marcus Lemonis, Chairman and Chief Executive Officer stated, “We are pleased with our strong performance and financial and cash position, and continue to be confident in our abilities to generate long-term profitable growth and return capital to our stockholders.”
Future declarations of quarterly 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, receipt of excess tax distributions from CWGS Enterprises, LLC, its business prospects and other factors that Camping World’s Board of Directors may deem relevant.
About Camping World Holdings, Inc.
Camping World Holdings, Inc., headquartered in Lincolnshire, IL, (together with its subsidiaries) is America’s largest retailer of RVs and related products and services. Our vision is to build a long-term legacy business that makes RVing fun and easy, and our Camping World and Good Sam brands have been serving RV consumers since 1966. We strive to build long-term value for our customers, employees, and shareholders by combining a unique and comprehensive assortment of RV products and services with a national network of RV dealerships, service centers and customer support centers along with the industry’s most extensive online presence and a highly-trained and knowledgeable team of associates serving our customers, the RV lifestyle, and the communities in which we operate. We also believe that our Good Sam organization and family of programs and services uniquely enables us to connect with our customers as stewards of the RV enthusiast community and the RV lifestyle. With over 175 locations in 38 states, Camping World, and sister company Gander RV & Outdoors, have grown to become prime destinations for everything RV. For more information, visit www.CampingWorld.com.