Wyndham Hotels & Resorts, Inc. (WH) will raise its quarterly dividend by 10.3 percent to $0.32 per share in 2020. This is the second dividend increase since WH started a 25 cent per share quarterly payment following its separation from Wyndham Worldwide (now Wyndham Destinations).
The company's Board of Directors authorized a 10% increase in the quarterly cash dividend to 32 cents from 29 cents per share, beginning with the dividend that is expected to be declared in the first quarter of 2020. We don't know a payment and record date yet. However a new annual rate of $1.28 per share yields 2.0% at the current stock price of $59.
Wyndham Hotels & Resorts is the world's largest hotel franchising company by the number of properties, with hotels across countries on six continents. Wyndham commands a leading presence in both the economy and midscale segments of the lodging industry. The company operates a portfolio of 20 hotel brands, including Super 8, Days Inn, Ramada, Microtel Inn & Suites, La Quinta, Wingate, AmericInn, Hawthorn Suites, The Trademark Collection, and Wyndham. Wyndham Hotels & Resorts is also a leading provider of hotel management services. Wyndham Hotels & Resorts was separated from Wyndham Worldwide (now Wyndham Destinations) in 2018.