Camping World initiates dividend program

LINCOLNSHIRE - Camping World Holdings Inc.'s board of directors set its first dividend since the company went public earlier this year.

The board declared a cash dividend of 8 cents per share on the company's Class A Common Stock and equivalent payments to the common unit holders of CWGS Enterprises LLC, payable on Dec. 20, to stockholders of record on December 7.

The company said it intends to pay a regular quarterly cash dividend to the holders of its Class A common stock, funded by a regular quarterly cash distribution by CWGS Enterprises, LLC to all common unit holders.

"We are pleased to initiate our quarterly dividend program, which not only follows through on what we told investors during our IPO, but is also sooner and higher than initially expected. We believe this demonstrates our confidence in our growth prospects, free cash flow generation and long-term financial outlook" said Marcus Lemonis, Chairman and Chief Executive Officer. "This dividend program reinforces our commitment to delivering value to our shareholders, while continuing to invest in our business and maintaining our strong balance sheet."

Chief Financial Officer Thomas Wolfe, added the initial dividend was higher than the projected 6.5 cent per share disclosed in its prospectus.

"Going forward, we will evaluate our dividend level based on our net income and free cash flow," Wolfe said.