Bluegreen Vacations Announces Board Approval of Share Repurchase Program

Rhea-AI Summary

Bluegreen Vacations Holding Corporation (NYSE: BVH; OTCQX: BVHBB) has announced a share repurchase program, authorizing the buyback of up to $40 million in Class A and Class B shares. The program will allow management to repurchase shares over time based on market conditions. This strategic move aims to enhance shareholder value and reflects confidence in the company's future prospects. Bluegreen specializes in vacation ownership and offers a points-based vacation ownership plan with numerous resort partnerships.

Positive

• Authorization for up to $40 million in share repurchases, which may enhance shareholder value.
• Demonstrates management's confidence in the company's financial health and future growth.

Negative

• None.

Bluegreen Vacations Holding Corporation (NYSE: BVH) (QTCQX: BVHBB) (“Bluegreen Vacations” or the “Company”), announced today that its Board of Directors has approved a share repurchase program which authorizes the repurchase of shares of its Class A and Class B Common Stock at an aggregate purchase price of no more than $40 million. The repurchase program authorizes the Company, in management’s discretion, to repurchase shares from time to time subject to market conditions and other factors.

About the Company:

Bluegreen Vacations Holding Corporation (NYSE: BVH; OTCQX: BVHBB) is a leading vacation ownership company that markets and sells vacation ownership interests and manages resorts in popular leisure and urban destinations. The Bluegreen Vacation Club is a flexible, points-based, deeded vacation ownership plan with 68 Club and Club Associate Resorts and access to nearly 11,300 other hotels and resorts through partnerships and exchange networks. The Company, through its wholly-owned subsidiaries, offers a portfolio of comprehensive, fee-based resort management, financial, and sales and marketing services to, or on behalf of, third parties.

For further information, please visit us at:
Bluegreen Vacations Holding Corporation: www.BVHCorp.com

This press release contains forward-looking statements based on current expectations that involve a number of risks and uncertainties. All opinions, forecasts, projections, future plans or other statements, other than statements of historical fact, are forward-looking statements. The forward-looking statements in this press release are also forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and involve substantial risks and uncertainties, including, but not limited to, the amount of shares, if any, which may be repurchased by the Company in the future, the value of any shares repurchased by the Company, the timing of any share repurchases, and the availability of funds for the repurchase of shares. In addition to the risks and factors identified above, reference is also made to other risks and factors detailed in reports filed by the Company with the Securities and Exchange Commission, including the Company’s Annual Report on Form 10-K and Quarterly Report on Form 10-Q, which may be viewed on the SEC's website, www.sec.gov, or on Bluegreen Vacations’ website, www.BVHcorp.com. Bluegreen Vacations cautions that the foregoing factors are not exclusive.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210809005786/en/

FAQ

What is the purpose of Bluegreen Vacations' share repurchase program?

The share repurchase program aims to enhance shareholder value by buying back shares from the market.

How much is Bluegreen Vacations authorized to repurchase in shares?

Bluegreen Vacations is authorized to repurchase up to $40 million in its Class A and Class B Common Stock.

How will the share repurchase affect Bluegreen Vacations' stock price?

Share repurchases can create upward pressure on the stock price by reducing the number of shares outstanding.

When will Bluegreen Vacations begin its share repurchase program?

The timing of the share repurchases will depend on market conditions and other factors as determined by management.

What types of stock is included in the repurchase program?

The repurchase program includes shares of Bluegreen Vacations' Class A and Class B Common Stock.