Camping World Holdings, Inc.’s Board of Directors declared a regular cash dividend.
A dividend of 62.5 cents per share on the company’s Class A Common Stock will be made June 29 to stockholders of record at the close of business June 14.
However, Camping World signaled it will review its capital allocation strategy, including dividend grants, in the future. The decision could mean an end to Camping World’s dividend.
“The management team and the board remain committed to driving long-term growth and maintaining a competitive dividend,” Chairman and CEO Marcus Lemonis said. “As part of that, we are undergoing a deep dive of the company’s capital allocation strategy to determine what we believe would be the most prudent allocation of our shareholders’ capital.
Camping World said future dividend declarations will be subject to the board’s determination and discretion. The decision will be based on various factors, the company said, including Camping World’s financial results, financial condition, level of indebtedness, anticipated capital requirements, contractual restrictions, restrictions in its debt agreements, restrictions under applicable law, receipt of excess or surplus of tax distributions, its business prospects and other factors that Camping World’s board may deem relevant.
“The dealership acquisition landscape remains more robust than I have ever seen,” Lemonis said, “and we believe we can materially grow our business over the next five years, targeting a 50% increase in our store count.”