Camping World Holdings, Inc. declared a second-quarter dividend and said it is reviewing its capital allocation strategy with future dividend payouts up to the board’s discretion.
Marcus Lemonis, chairman and chief executive officer, stated, “The management team and the Board remain committed to driving long-term growth and maintaining a competitive dividend. As part of that, we are undergoing a deep dive into the company’s capital allocation strategy to determine what we believe would be the most prudent allocation of our shareholders’ capital. The dealership acquisition landscape remains more robust than I have ever seen, and we believe we can materially grow our business over the next five years, targeting a 50 percent increase in our store count.”
The Board of Directors declared a regular cash dividend of $0.625 per share on the company’s Class A Common Stock. Payment is expected to be made on June 29, 2023, to stockholders of record at the close of business on June 14, 2023.
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.