Camping World Declares Third Quarter Dividend

Rhea-AI Summary

Camping World Holdings, Inc. (NYSE: CWH) announces a modified cash dividend of $0.125 per share, prioritizing capital allocation towards RV dealership acquisitions. The Board of Directors has declared the dividend to be paid on September 29, 2023, to stockholders of record as of September 14, 2023. This decision follows the Company's review of its capital allocation strategy, which has seen over 30 RV dealership locations opened, acquired, or signed letters of intent since January 1, 2023.

Positive

• The prioritization of capital allocation towards RV dealership acquisitions indicates the company's confidence in the growth potential of this sector, which could lead to increased revenue and market share in the future.

Negative

• None.

Capital Allocation Strategy Focused on RV Dealership Acquisitions

LINCOLNSHIRE, Ill.--(BUSINESS WIRE)-- Camping World Holdings, Inc. (NYSE: CWH) (“Camping World”), the World’s Largest Recreational Vehicle Dealer, today announced that its Board of Directors declared a regular cash dividend of $0.125 per share of the Company’s Class A common stock. Payment is expected to be made on September 29, 2023 to stockholders of record at the close of business on September 14, 2023.

After concluding its review of the Company’s capital allocation strategy, the Board has elected to modify its quarterly dividend to reflect the prioritization of capital allocation towards RV dealership acquisitions. Since January 1, 2023, the Company has opened, acquired, or signed letters of intent with over 30 RV dealership locations.

Future declarations of quarterly 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, receipt of excess or surplus of tax distributions received from CWGS Enterprises, LLC, its business prospects and other factors that Camping World’s Board of Directors may deem relevant.

About Camping World Holdings, Inc.
Camping World Holdings, Inc., headquartered in Lincolnshire, IL, (together with its subsidiaries) is the World’s largest retailer of RVs and related products and services. Our vision is to build a long-term legacy business that makes RVing fun and easy. Our Camping World and Good Sam brands have been serving RV consumers since 1966. We strive to build long-term value for our customers, employees, and shareholders by combining a unique and comprehensive assortment of RV products and services with a national network of RV dealerships, service centers and customer support centers along with the industry’s most extensive online presence and a highly trained and knowledgeable team of employees serving our customers, the RV lifestyle, and the communities in which we operate. We also believe that our Good Sam organization and family of programs and services uniquely enable us to connect with our customers as stewards of the RV enthusiast community and the RV lifestyle. With RV sales and service locations in 43 states, Camping World has grown to become the prime destination for everything RV. For more information, visit www.CampingWorld.com.

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 other than statements of historical facts contained in this press release may be forward-looking statements. Statements regarding the anticipated benefits from and changes to the capital allocation strategy, our future results of operations and financial position, anticipated acquisitions, and future dividend payments are forward-looking statements. 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 the important factors discussed under the caption “Risk Factors” in our Annual Report on Form 10-K filed for the year ended December 31, 2022 and our other reports filed with the SEC. 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/20230801675256/en/

Brett Andress

InvestorRelations@campingworld.com

Media Outlets:

PR-CWGS@CampingWorld.com

Source: Camping World

FAQ

What is Camping World Holdings, Inc.'s stock ticker symbol?

Camping World Holdings, Inc.'s stock ticker symbol is CWH.

When will the cash dividend be paid to stockholders?

The cash dividend is expected to be paid on September 29, 2023, to stockholders of record as of September 14, 2023.

How many RV dealership locations has Camping World Holdings, Inc. opened, acquired, or signed letters of intent with since January 1, 2023?

Since January 1, 2023, Camping World Holdings, Inc. has opened, acquired, or signed letters of intent with over 30 RV dealership locations.