Bluegreen Vacations’ Board Approves the Expansion of its Share Repurchase Program
BOCA RATON, Fla.--(BUSINESS WIRE)-- Bluegreen Vacations Holding Corporation (NYSE: BVH) (OTCQX: BVHBB) (the “Company") announced today that its Board of Directors has expanded the Company’s share repurchase program by authorizing the repurchase of an additional $50 million of shares of the Company’s Class A and Class B Common Stock.
On August 9, 2021, the Company announced that its Board of Directors had approved a share repurchase program which authorized the Company, in management’s discretion, to repurchase shares from time to time, subject to market conditions and other factors considered by management, for an aggregate purchase price of up to $40 million. Since the inception of this share repurchase program, the Company has repurchased approximately 1.2 million shares of its Class A Common Stock and approximately 19,000 shares of its Class B Common Stock for an aggregate purchase price of approximately $27.3 million. Based on the Board’s expansion of the program, approximately $62.7 million will be available for repurchasing shares in the future.
The timing, price, and number of shares repurchased under the program in the future will be based on market conditions, applicable securities laws, and other factors considered by management. Share repurchases under the program may be made through solicited or unsolicited transactions in the open market or in privately negotiated transactions. The share repurchase program does not obligate the Company to repurchase any specific amount of shares and may be suspended, modified, or terminated at any time without prior notice.
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 Bluegreen Vacations Corporation, also offers a portfolio of comprehensive, fee-based resort management, financial, and sales and marketing services to, or on behalf of, third parties.
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Bluegreen Vacations Holding Corporation: www.BVHCorp.com
This press release contains forward-looking statements. 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"). Forward-looking statements are based on current expectations and involve a number of risks and uncertainties. Actual results, performance, or achievements could differ materially from those contemplated, expressed, or implied by the forward-looking statements contained herein. Risks and uncertainties include, but are not limited to, the amount of shares, if any, which may be repurchased by the Company in the future, the timing of any share repurchases, the availability of funds for the repurchase of shares, and the impact of the repurchase of shares on the market for Bluegreen Vacations Holding Corporation’s Class A Common Stock and Class B Common Stock. Reference is also made to the other risks and uncertainties described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021, which is expected to be filed with the SEC on or about March 3, 2022, which is are available to view on the SEC's website, https://www.sec.gov and on the Company’s website, www.BVHcorp.com. The Company cautions that the foregoing factors are not exclusive. The reader should not place undue reliance on any forward-looking statement, which speaks only as of the date made.
Bluegreen Vacations Holding Corporation Contact Info
Investor Relations: Leo Hinkley, Managing Director, Investor Relations Officer
Source: Bluegreen Vacations Holding Corporation
Released March 3, 2022