FORT LAUDERDALE, FL -- (Marketwired) -- 03/07/18 -- BBX Capital Corporation (NYSE: BBX)(OTCQX: BBXTB) ("BBX Capital" or the "Company") announced today that the Company's Board of Directors has declared a cash dividend of $0.01 per share, up from $0.0075 per share, on its Class A and Class B Common Stock, with a payment date of April 20, 2018, to all shareholders of record at the close of trading on March 26, 2018, and has indicated its intention to continue to declare regular quarterly dividends of $0.01 per quarter per share on its Class A and Class B Common Stock (an aggregate per share of $0.04 annually, up from $0.03 annually).
"The increased level of dividend reflects both the Company's progress and positive trends," commented Alan B. Levan, Chairman and Chief Executive Officer of BBX. "We are pleased with the Company's performance and appreciative of our shareholders' support."
About BBX Capital Corporation: BBX Capital Corporation (NYSE: BBX)(OTCQX: BBXTB) is a Florida-based diversified holding company whose activities include its 90 percent ownership interest in Bluegreen Vacations Corporation as well as its real estate and middle market divisions. For additional information, please visit www.BBXCapital.com.
About Bluegreen Vacations Corporation: Bluegreen Vacations Corporation (NYSE: BXG) is a leading vacation ownership company that markets and sells vacation ownership interests (VOIs) and manages resorts in top leisure and urban destinations. The Bluegreen Vacation Club is a flexible, points-based, deeded vacation ownership plan with approximately 213,000 owners, 67 Club and Club Associate Resorts and access to more than 11,000 other hotels and resorts through partnerships and exchange networks as of December 31, 2017. Bluegreen Vacations also offers a portfolio of comprehensive, fee-based resort management, financial, and sales and marketing services, to or on behalf of third parties. Bluegreen is 90% owned by BBX Capital Corporation, a diversified holding company. For additional information, please visit www.BluegreenVacations.com.
Certain matters within this press release include "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements may involve known and unknown risks, uncertainties and other factors that may cause the actual results or performance to differ from those projected in the forward-looking statements, including but not limited to, the risk that quarterly dividend payments may not be declared at the current annualized amount, in the future or on a regular basis, or as anticipated, if at all and risks associated with the Company's future progress and performance. For a description of risks relating to the payment of dividends as well as other risks and uncertainties, please review the "Risk Factors" section and other information contained in the Company's Annual Report on Form 10-K for the year ended December 31, 2017, filed with the Securities and Exchange Commission, which are available on the SEC's website, https://www.sec.gov, and on BBX Capital's website, www.BBXCapital.com.
BBX Capital Corporation Contact Info:
Managing Director, Investor Relations Officer
Media Relations Contacts:
Kip Hunter Marketing
Nicole Lewis / Elysia Volpe
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Source: BBX Capital Corporation and Bluegreen Vacations Corporation