Wyndham Worldwide Boosts Dividend 53%; Q4 Earnings Fall (WYN)


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Hotel operator Wyndham Worldwide Corporation ( WYN ) on Wednesday said its fourth quarter earnings fell sharply from last year, hurt but one-time items, but adjusted profit beat expectations and the company significantly raised its quarterly dividend payout.

The Parsippany, NJ-based company reported fourth quarter net income of $56 million, or 37 cents per share, compared with $78 million, or 43 cents per share, in the year-ago period. Excluding one-time items, adjusted profit was 47 cents per share.

Revenue rose 7% from last year to $1 billion.

On average, Wall Street analysts expected a smaller profit of 44 cents per share, albeit on higher revenue of $1.01 billion.

In a separate announcement, WYN's board of directors approved a 53% raised in its quarterly dividend payout. The new dividend of 23 cents per share (up from 15 cents) will be officially declared in the first quarter of this year.

Wyndham Worldwide shares fell 43 cents, or -1%, in premarket trading Wednesday.

The Bottom Line
Shares of Wyndham Worldwide ( WYN ) have a 2.25% dividend yield, based on last night's closing stock price of $40.93. The stock has technical support in the $36-$38 price area. The stock is trading near all-time highs.

Wynn Resorts, Limited ( WYNN ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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