Camping World, Lippert, Patrick Industries Declare Dividends – RVBusiness – Breaking RV Industry News
Three RV industry heavyweights announced in press releases that they have scheduled regular cash dividends payments. LCI Industries Inc. also announced a stock repurchase program.
LCI Industries (NYSE: LCII) announced that its board of directors approved a regular quarterly cash dividend of $1.15 per share of common stock and authorized a new $300 million stock repurchase program over the next three years.
The dividend is payable on June 13, 2025, to stockholders of record at the close of business on May 30.
“This stock repurchase program reflects the board of directors’ and senior management’s commitment to strategic capital deployment that enhances shareholder value, underscoring our confidence in LCI Industries’ long-term growth strategy. Our strong operating cash flows, balance sheet, and borrowing capacity give us the flexibility to return capital to shareholders while investing in our business to drive growth and innovation, pursue strategic acquisitions, and maintain appropriate debt levels,” said Jason Lippert, LCI Industries’ President and Chief Executive Officer.
The timing of stock repurchases and the number of shares will depend upon the market conditions and other factors. Share repurchases, if any, will be made in the open market and in privately negotiated transactions in accordance with applicable securities laws. The stock repurchase program may be modified, suspended, or terminated at any time by the Board of Directors. Repurchases under the stock repurchase program will be funded from the Company’s existing cash and cash equivalents, future cash flows, and its existing revolving line of credit.
Camping World Holdings Inc. (NYSE: CWH) announced that its Board of Directors declared a regular cash dividend of $0.125 per share on the company’s Class A Common Stock. Payment is expected to be made on June 27 to stockholders of record at the close of business on June 13.
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.
Patrick Industries Inc. (NASDAQ: PATK) announced its board of directors declared a quarterly cash dividend on its common stock of $0.40 per share. The dividend is payable on June 9 to shareholders of record at the close of business on May 27.
