Camping World’s Board of Directors has approved a 75 percent increase in the company’s quarterly special dividend, paid to holders of the company’s class A common stock from $0.08 per share to $0.14 per share, an increase of $0.06 per share on a quarterly basis and $0.24 per share on an annualized basis. The quarterly special dividend represents a portion of excess tax distributions made by CWGS Enterprises, LLC to the company.
When combined with the company’s regular quarterly dividend of $0.09 per share, holders of Class A common Stock are expected to receive a total of $0.92 per share in annual dividends.
Marcus Lemonis, chairman and CEO said, “This dividend increase is a reflection of our strong financial and cash position, our performance and the continued confidence in our abilities to generate long-term profitable growth and return capital to our shareholders.”
Future declarations of regular quarterly and quarterly special 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, its business prospects and other factors that Camping World’s Board of Directors may deem relevant.
