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Wyndham Destinations (NYSE:WYND) declared a cash dividend of $0.30 per share on common stock, payable on December 30, 2020. Shareholders of record as of December 15, 2020 will receive this dividend. The company continues to serve over four million members through its vacation club and exchange services, emphasizing quality and flexibility in the ownership experience.
Wyndham Destinations reported Q3 2020 net income of $40 million with a diluted EPS of $0.47 on revenues of $614 million. Adjusted EBITDA stood at $139 million while adjusted diluted EPS reached $0.83. Cash and cash equivalents totaled $1.3 billion, with total liquidity at $1.5 billion. However, the company faced a significant revenue decline of 44% in its Wyndham Vacation Clubs segment and a 45% drop in Panorama revenues. Despite challenges from COVID-19, the company plans to recommend a Q4 dividend of $0.30 per share.
Club Wyndham has introduced a Thanksgiving quar-nucopia package offering 15-night travel bubbles for extended families. The package includes a $250 gift card for Thanksgiving essentials and starts at $2,150 for a two-bedroom suite. Families must quarantine for two weeks in separate suites before reuniting for dinner. This offer is available for bookings until November 6, 2020, with stays at various Club Wyndham resorts across the U.S. Non-members can also book this holiday experience, promoting family gatherings safely while adhering to health guidelines.
Wyndham Destinations (NYSE: WYND) will announce its third quarter 2020 financial results on October 28, 2020, before the market opens, followed by a conference call at 8:30 a.m. ET. The call features insights from President and CEO Michael D. Brown and CFO Michael Hug, focusing on financial performance and future outlook. Investors can access the live webcast via the company's investor relations website or by dialing in with a passcode. An archive of the call will be available for 90 days post-event.
Wyndham Destinations (NYSE: WYND) presented at the J.P. Morgan Gaming, Lodging, Restaurant & Leisure Management Access Forum, where CEO Michael D. Brown and CFO Mike Hug discussed recent operational metrics. VOI sales for July and August totaled $168 million, with a sequential improvement noted. Despite a year-over-year decline, occupancy levels are rebounding, reaching 77% over Labor Day. The company reaffirmed its outlook, expecting a more than 30% increase in VPG and positive full-year adjusted Free Cash Flow, even as some resorts in Hawaii and California remain closed.
Wyndham Destinations (NYSE: WYND) announced that its president and CEO, Michael D. Brown, and CFO, Mike Hug, will speak at the J.P. Morgan Gaming, Lodging, Restaurant & Leisure Management Access Forum on September 14, 2020, at 11:20 a.m. ET. A live audio webcast of the event will be accessible on the company's investor relations website, with a replay available for 30 days. Wyndham Destinations is a leading vacation ownership company with over four million members in 230 resorts worldwide.
RCI, a leader in vacation exchange, is launching a suite of travel services aimed at enhancing the travel experience for its nearly 4 million members. This initiative follows their 2019 acquisition of Alliance Reservations Network, allowing for a comprehensive range of B2B products and travel resources. New offerings include RCI Travel, hotel discounts, and enhanced cruise options, emphasizing a shift from a transactional model to a holistic travel advisory. The company aims to be a trusted travel provider for all member journeys, underlining its expansion into the broader travel market.
Wyndham Destinations (NYSE: WYND) has successfully executed a $575 million term securitization transaction via Sierra Timeshare 2020-2 Receivables Funding LLC. The issuance includes Class A Notes at $173 million (1.33% coupon), Class B Notes at $193 million (2.32% coupon), Class C Notes at $144 million (3.51% coupon), and Class D Notes at $65 million (6.59% coupon), resulting in an overall weighted average coupon of 2.81%. CFO Michael Hug noted strong investor demand allowed for an upsizing of the transaction by $175 million, marking the largest term securitization since 2007.
Wyndham Destinations (WYND) announced a cash dividend of $0.30 per share, scheduled for September 30, 2020, to shareholders on record as of September 15, 2020. This dividend reflects the company's commitment to returning value to its shareholders amid ongoing challenges posed by the COVID-19 pandemic. The press release included forward-looking statements, cautioning investors about uncertainties related to the pandemic's impact on business performance and the potential for future dividends.
Wyndham Destinations reported a significant second-quarter net loss of $164 million, translating to a diluted loss per share of $1.92 on revenues of $343 million. Adjusted EBITDA was $16 million, with net cash from operations at $130 million. Despite a 70% revenue drop in Wyndham Vacation Clubs and a 54% decline in Panorama, the company announced plans for a $0.30 dividend and issued $650 million in senior secured notes. The firm is optimistic about recovery as 85% of resorts reopened, suggesting a potential rebound in leisure travel demand in the latter half of the year.
