In conjunction with its meeting with investors today, Wyndham Worldwide Corporation (NYSE: WYN) announced the expected quarterly dividends for the two independent public companies that will result from the upcoming spin-off of Wyndham Hotels & Resorts, Inc. from Wyndham Worldwide. The expected dividends are subject to declaration by the Boards of Directors of each company.
Wyndham Hotels & Resorts, Inc. expects to pay a quarterly cash dividend of $0.25 per share beginning in June 2018, and Wyndham Worldwide Corporation, which will be renamed Wyndham Destinations, Inc., expects to pay a quarterly cash dividend of $0.41 per share beginning in June 2018. The dividends, in aggregate, are consistent with Wyndham Worldwide's current quarterly dividend of $0.66 per share. The Boards of Directors of both companies are expected to declare the respective dividends in the near future.
Wyndham Worldwide is hosting an investor meeting from 9:00 a.m. EDT until approximately 12:30 p.m. EDT time on May 16, 2018, at which they will provide an update and introduction to Wyndham Hotels & Resorts and Wyndham Destinations, including an overview of their business models, growth opportunities and capital allocation frameworks. The event is being webcast at investor.wyndhamworldwide.com. Presentations will be posted to Investor.wyndhamworldwide.com following the meeting and a replay of the webcast will be available at investor.wyndhamworldwide.com until May 16, 2019.
Following the spin-off, Wyndham Destinations, Inc. will continue to be the world's largest vacation ownership and exchange company. Wyndham Hotels & Resorts, Inc. will be the world's largest hotel franchisor, with approximately 8,000 affiliated hotels in over 80 countries.
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.
