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.
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.
SOURCE Wyndham Worldwide