- Yesterday, Marriott Vacations Worldwide Corp (NYSE:VAC) announced shareholders’ appreciation initiatives.
- The Board of Directors raised the remaining share repurchase authorization to up to $600 million (including the $149 million remaining unused capacity as of May 10, 2023) and extended the repurchase authorization through December 31, 2024.
- Also, the company declared a quarterly dividend per share of $0.72, payable on or around June 8, 2023, to stockholders of record as on May 25, 2023.
- This week, VAC also announced the retirement of its Executive Vice President and CFO, Anthony Terry, later this year.
- Last week, VAC announced Q1 2023 revenues of $1.17 billion, beating the consensus of $1.13 billion and adjusted EPS of $2.54, exceeding the consensus of $1.94.
- In Q1, the company repurchased shares worth $80 million and paid two quarterly dividends of $54 million.
- The company had $306 million of cash and cash equivalents as of March 31, 2023.
- Price Action: VAC shares closed lower by 0.50% at $124.39 on Thursday.
Why Electronic Systems Designer Cadence Shares Are Down Premarket Today
Cadence Design Systems reported $1.069B revenue, 43% operating margin, & $1.38 EPS. Outlook: $990M-$1.01B revenue, $1.10-$1.14 EPS for Q1 FY24.
