Camping World raises dividend to boost implied yield to nearly 8%
Camping World Holdings Inc.
said Tuesday it has raised its quarterly dividend by 25%, to 62.5 cents a share from 50.0 cents. The recreational vehicle retailer’s stock was still inactive in the premarket. The new dividend will be payable on March 29 to shareholders of record on March 14. Based on Friday’s stock closing price of $32.09, the new annual dividend rate of $2.50 implies a dividend yield of 7.79%, which compares with the implied yield for the S&P 500 of 1.45%. “While the primary objective is to continue to invest in the growth of our business, our management team remains focused on a healthy return of capital to our shareholders, through strong dividends and our stock repurchase program,” said Chief Executive Marcus Lemonis. Camping World’s stock has tumbled 27.2% over the past three months, while the S&P 500
has slipped 7.1%.