Wyndham Worldwide Issues 2016 Guidance; Increases Dividend 19%

(RTTNews) - Wyndham Worldwide Corp. (WYN) announced, for the full year 2016, the company expects: revenues of approximately $5.800-$5.950 billion; adjusted EBITDA of approximately $1.375 - $1.400 billion; and adjusted EPS of approximately $5.46-$5.60.

The company's Board authorized an increase in the quarterly cash dividend to $0.50 from $0.42 per share, beginning with the dividend that is expected to be declared in the first quarter of 2016. The company's Board also approved a $1 billion increase in the share repurchase authorization.

Fourth quarter adjusted EBITDA was $273 million, compared with $252 million in the prior year period, an increase of 8%. Reported EPS was $1.21, compared with $0.65 in the fourth quarter of 2014. Adjusted earnings per share was $0.98, an increase of 9% from adjusted EPS of $0.90 in the fourth quarter of 2014. Fourth quarter revenues were $1.3 billion, an increase of 6% from the prior year period.

Analysts polled by Thomson Reuters expected the company to report profit per share of $0.97 on revenue of $1.29 billion. Analysts' estimates typically exclude special items.