Camping World Declares Regular Quarterly and Special Dividend Totaling One Dollar per Share
Camping World Holdings, Inc. (NYSE:CWH) (the "Company," "Camping World," "CWH," "we," "us" or "our"), announced today that its Board of Directors declared a cash dividend of $1.00 per share on the Company's Class A Common Stock and a cash distribution of $0.29 per common unit on CWGS Enterprises, LLC's common units. Payment is expected to be made on December 29, 2020, to stockholders of record at the close of business on December 15, 2020.
The CWH Class A common stock cash dividend of $1.00 per share is comprised of the regular quarterly cash dividend of $0.09 per share, a recurring special quarterly dividend of $0.14 per share, and a $0.77 per share one-time special cash dividend, all funded by the $0.29 per common unit cash distribution by CWGS Enterprises, LLC to all holders of its common units, including CWH, and a portion of the tax distributions from CWGS Enterprises, LLC that are in excess of the corporate income taxes payable by CWH.
Marcus Lemonis, Chairman and Chief Executive Officer of Camping World stated, "I'm very pleased to be in a position to return capital to our shareholders based on our strong results and cash position thus far in 2020. We are very excited to close the year and look forward to 2021."
Future declarations of quarterly dividends and 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.
About Camping World Holdings, Inc.
Camping World, headquartered in Lincolnshire, Illinois, is the leading outdoor and camping retailer, offering an extensive assortment of recreational vehicles for sale, RV and camping gear, RV maintenance and repair and the industry's broadest and deepest range of services, protection plans, products and resources. Since the Company's founding in 1966, Camping World has grown to become one of the most well-known destinations for everything RV, with more than 160 locations in 37 states and a comprehensive e-commerce platform.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 concerning Camping World and other matters. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including, without limitation, statements regarding future declarations of dividends and future financial results. In some cases, you can identify forward-looking statements by terms such as ‘‘may,'' ‘‘will,'' ‘‘should,'' ‘‘expects,'' ‘‘plans,'' ‘‘anticipates,'' ‘‘could,'' ‘‘intends,'' ‘‘targets,'' ‘‘projects,'' ‘‘contemplates,'' ‘‘believes,'' ‘‘estimates,'' ‘‘predicts,'' ‘‘potential'' or ‘‘continue'' or the negative of these terms or other similar expressions. The forward-looking statements in this press release are only predictions. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our business, financial condition and results of operations. Forward-looking statements involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. You should carefully consider the risks and uncertainties that affect our business, including those described in our filings with the Securities and Exchange Commission, including under the caption "Risk Factors" in Item 1A of Part I of our Annual Report on Form 10-K for the year ended December 31, 2019, as updated by Part II, Item 1A of our Quarterly Report for the quarter ended September 30, 2020. These forward-looking statements speak only as of the date of this communication. Except as required by applicable law, we do not plan to publicly update or revise any forward-looking statements, whether as a result of any new information, future events or otherwise. You are advised, however, to consult any further disclosures we make on related subjects in our public announcements and filings with the Securities and Exchange Commission.
View source version on businesswire.com: https://www.businesswire.com/news/home/20201118005341/en/