Hilton Grand Vacations (HGV) Announces New Share Repurchase Plan

Hilton Grand Vacations Inc. (NYSE: HGV) (“HGV” or “the Company”) announces its Board of Directors approved a two-year share repurchase plan authorizing the Company to repurchase up to an aggregate of $500 million of its outstanding shares of common stock.

The new repurchase plan will commence once the existing two-year repurchase program, which was approved by the Board of Directors in May 2022 for $500 million, is fully completed. As of April 30, 2023, the Company had approximately $83 million remaining under the prior repurchase program.

“I’m pleased to announce that our Board of Directors has authorized a new $500 million, two-year share repurchase plan,” said Dan Mathewes, senior executive vice president and CFO at Hilton Grand Vacations. “This new plan underscores our continued commitment to delivering long-term value to our shareholders through capital returns and reflects confidence in our cash flow trajectory and balance sheet strength.”

HGV may repurchase shares in the open market, in privately negotiated transactions or in such other manners as determined by the Company, including through repurchase plans complying with the rules and regulations of the Securities and Exchange Commission (the “SEC”). The amount and timing of any repurchases made under the stock repurchase program will depend on a variety of factors, including available liquidity, cash flow and market conditions. The stock repurchase program does not obligate HGV to repurchase any dollar amount or number of shares of common stock and the program may be suspended or discontinued at any time.

You May Also Be Interested In

• enVVeno Medical (NVNO) files $100M mixed shelf
• Global Interactive Technologies receives Nasdaq non-compliance notice
• Andersen closes secondary offering of 4.9M shares at $44 each