PARSIPPANY, N.J. - Wyndham (NYSE:WH) Hotels & Resorts, Inc. (NYSE: WH) has declared a quarterly cash dividend of $0.38 per share on its common stock, the company announced Thursday. This dividend is payable on June 28, 2024, to shareholders of record as of June 14, 2024.
As the world's largest hotel franchising company by the number of properties, Wyndham Hotels & Resorts operates around 9,200 hotels in over 95 countries. Its portfolio of 25 hotel brands caters to a variety of travelers, particularly within the economy and midscale segments. These brands include recognizable names such as Super 8®, Days Inn®, Ramada®, and Wyndham®.
The company's Wyndham Rewards loyalty program, which has won awards for its structure, boasts approximately 108 million enrolled members. These members can redeem points at a wide range of hotels, vacation club resorts, and vacation rentals worldwide.
Wyndham also noted the use of its website and social media channels for disclosing material non-public information in compliance with its disclosure obligations under Regulation FD. Investors are encouraged to monitor these platforms, alongside the company's press releases and Securities and Exchange Commission filings, for the latest updates.
The press release included forward-looking statements regarding Wyndham's quarterly dividend, which are based on management's current expectations and projections. However, it cautioned that such statements are subject to risks, uncertainties, and other factors that may cause actual results to differ materially from those expressed or implied. These could include general economic conditions, the performance of financial and credit markets, the hospitality industry environment, and other operating risks.
Factors such as global health crises, like the COVID-19 pandemic, could also impact Wyndham's business, operations, and financial results, as well as the hospitality industry at large. Other considerations include the company's ability to manage its debt obligations and access financing on favorable terms.
This dividend announcement is based on a press release statement from Wyndham Hotels & Resorts.
InvestingPro Insights
Wyndham Hotels & Resorts (NYSE: WH) has recently announced a quarterly cash dividend, signaling confidence in their financial stability and commitment to returning value to shareholders. According to InvestingPro data, the company's market capitalization stands at $5.87 billion, with a Price/Earnings (P/E) ratio of 25.47. When adjusted for the last twelve months as of Q1 2024, the P/E ratio shows a more favorable figure at 20.19, suggesting that the company's earnings could be catching up to its market valuation.
The company's revenue for the last twelve months as of Q1 2024 was reported at $1.38 billion, with a modest growth of 2.53%. This indicates a steady performance in terms of top-line income. Additionally, the gross profit margin during this period was an impressive 67.46%, which is a testament to Wyndham's operational efficiency and ability to maintain profitability in a competitive industry.
Investors looking at dividend reliability would be interested to know that Wyndham has raised its dividend for three consecutive years, as per InvestingPro Tips. This, combined with a dividend yield of 2.09% and a dividend growth rate of 8.57% for the last twelve months as of Q1 2024, makes the company's stock an attractive consideration for income-focused portfolios.
For those interested in further insights and metrics, there are additional InvestingPro Tips available, which include management's aggressive share buybacks and analysts' upward revisions of earnings for the upcoming period. These tips could provide a deeper understanding of Wyndham's strategic financial management and market expectations. To access these tips and more, visit InvestingPro and use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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