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Marriott Vacations Worldwide Corp (NYSE:VAC), a leader in vacation ownership and resort management with a market capitalization of $2.5 billion and annual revenue of $3.3 billion, announced the results of its annual stockholder meeting held on Tuesday. The company, which has maintained dividend payments for 12 consecutive years and currently offers a 4.4% dividend yield, saw a significant turnout with approximately 92.76% of eligible shares represented. According to InvestingPro data, the company has demonstrated strong financial health with a current ratio of 3.61, indicating robust liquidity.
During the meeting, stockholders elected eight director nominees named in the Proxy Statement. The votes for each nominee were overwhelmingly in favor, with the lowest number of votes for any single nominee being 25,613,397. Additionally, all nominees had a significant number of broker non-votes, which ranged from 4,534,196 to 4,534,196. The company’s strong governance comes alongside impressive recent performance, with InvestingPro data showing a notable 24.3% return over the past week.
The appointment of Ernst & Young LLP as the company’s independent auditors for the current fiscal year was ratified with 31,861,272 votes for, 135,164 against, and 65,600 abstentions.
Furthermore, the compensation of the company’s named executive officers was approved on an advisory basis, with 26,628,510 votes for, 783,849 against, and 115,481 abstentions. Stockholders also recommended that future votes on executive compensation occur annually, with 25,520,125 supporting yearly votes, 18,005 biennially, 1,954,540 every three years, and 35,170 abstentions.
The meeting’s outcomes are detailed in a Form 8-K filed with the Securities and Exchange Commission on Wednesday. The document also includes an exhibit with the Cover Page Interactive Data File embedded within the Inline XBRL document.
This information is based on a press release statement.
In other recent news, Marriott Vacations Worldwide reported its first-quarter 2025 earnings, exceeding analysts’ expectations with an earnings per share (EPS) of $1.66, compared to the projected $1.59. The company’s revenue for the quarter was $1.2 billion, slightly below the $1.22 billion forecast. Despite this, the company showed strong operational performance with a 3% increase in adjusted EBITDA to $192 million. Additionally, Marriott Vacations Worldwide declared a quarterly cash dividend of $0.79 per share, reflecting its commitment to shareholder value.
Goldman Sachs adjusted its price target for Marriott Vacations, raising it from $48.00 to $55.00, while maintaining a Sell rating, indicating caution despite the company’s improved earnings performance. The firm highlighted a 4% decline in contract sales during March and April, although cost savings have been revised upwards from $15 million to $35 million, potentially including anticipated savings from 2026. Analysts at Goldman Sachs raised their forecast for the company’s 2025 EBITDA from $708 million to $750 million.
These developments underscore the mixed sentiment surrounding Marriott Vacations Worldwide, with positive earnings overshadowed by concerns in the timeshare sector. The company continues to focus on modernization and innovation initiatives to drive future growth.
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