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 story : Marriott Vacations to reinstate dividend, sees contract sales at low end of guidance range #FinanceUSA #StockMarketNEWS Marriott Vacations Worldwide Corp. said it expects third-quarter contract sales

@stockMarketNEWS 8 Days ago

Posted in: #FinanceUSA #StockMarketNEWS

Marriott Vacations to reinstate dividend, sees contract sales at low end of guidance range #FinanceUSA #StockMarketNEWS
Marriott Vacations Worldwide Corp. said it expects third-quarter contract sales to be at the lower end of its previously provided guidance range of 0 million to 0 million, as the vacation ownership company said the recent increase in COVID-19 cases and the wildfires around Lake Tahoe have led to "modestly elevated" cancellation rates. Average estimate of two analysts surveyed by FactSet is for contract sales of 0 million. The company also said it is reinstating its quarterly dividend of 54 cents a share, which it last paid in February 2020. The reinstated dividend will be paid to shareholders of record on Sept. 23 on Oct. 7. Separately, the company said it has authorized the repurchase of up to 0 million, which could represent 3.9% of the company's .36 billion in market capitalization as of Friday's close. The stock, which was still inactive in premarket trading, has dropped 14.0% over the past three months, while the S&P 500 has gained 5.0%.


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