DENVER, Feb. 24, 2016 /PRNewswire/ -- RE/MAX
Holdings, Inc. (NYSE: RMAX), one of the world's leading
franchisors of real estate brokerage services, announced today that
its Board of Directors raised the Company's quarterly dividend by
20% to $0.15 per share.
"As part of our commitment to return capital to shareholders,
our board has approved a 20 percent increase to our quarterly
dividend," said Dave Liniger, Chief
Executive Officer and Co-Founder of RE/MAX. "We have now increased
our quarterly dividend by 140 percent in the last two
years. Our ability to raise our quarterly dividend is a testament
to the stability of our franchise business model with recurring
revenue streams and strong free cash flow."
Liniger continued, "Even after increasing our quarterly dividend
and acquiring the master franchise rights to the New York region, we are still well positioned
to pursue our capital priorities in order to spur future
growth."
The quarterly dividend is payable on March 23, 2016 to shareholders of record at the
close of business on March 9,
2016.
About the RE/MAX Network
RE/MAX was founded in 1973 by David and
Gail Liniger, with an innovative, entrepreneurial culture
affording its agents and franchisees the flexibility to operate
their businesses with great independence. Over 100,000 agents
provide RE/MAX a global reach of nearly 100 countries. Nobody sells
more real estate than RE/MAX as measured by total residential
transaction sides.
RE/MAX, LLC, one of the world's leading franchisors of real
estate brokerage services, is a wholly-owned subsidiary of RMCO,
which is controlled and managed by RE/MAX Holdings, Inc. (NYSE:
RMAX).
Forward Looking Statements
This press release includes "forward-looking statements" within
the meaning of the "safe harbor" provisions of the United States
Private Securities Litigation Reform Act of 1995. Forward-looking
statements may be identified by the use of words such as "believe,"
"intend," "expect," "estimate," "plan," "outlook," "project" and
other similar words and expressions that predict or indicate future
events or trends that are not statements of historical matters.
These forward-looking statements include statements regarding the
Company's outlook for the first quarter and full fiscal year,
including expectations regarding agent count, revenue, SO&A
expenses, and Adjusted EBITDA margins for its first quarter of 2016
and full fiscal year, the Company's optimism for agent recruitment,
investment, acquisitions and improving market conditions, as well
as other statements regarding the Company's strategic and
operational plans and business models. Forward-looking statements
should not be read as a guarantee of future performance or results,
and will not necessarily be accurate indications of the times at,
or by, which such performance or results will be achieved.
Forward-looking statements are based on information available at
the time those statements are made and/or management's good faith
belief as of that time with respect to future events, and are
subject to risks and uncertainties that could cause actual
performance or results to differ materially from those expressed in
or suggested by the forward-looking statements. Such risks and
uncertainties include, without limitation, (1) changes in business
and economic activity in general, (2) changes in the real estate
market, including changes due to interest rates and availability of
financing, (3) the Company's ability to attract and retain quality
franchisees, (4) the Company's franchisees' ability to recruit and
retain agents, (5) changes in laws and regulations that may affect
the Company's business or the real estate market, (6) failure to
maintain, protect and enhance the RE/MAX brand, (7) fluctuations in
foreign currency exchange rates, as well as those risks and
uncertainties described in the sections entitled "Risk Factors" and
"Management's Discussion and Analysis of Financial Condition and
Results of Operation" in the most recent Annual Report on Form 10-K
filed with the Securities and Exchange Commission ("SEC") and
similar disclosures in subsequent periodic and current reports
filed with the SEC, which are available on the investor relations
page of the Company's website at www.remax.com and on the SEC
website at www.sec.gov. Readers are cautioned not to place
undue reliance on forward-looking statements, which speak only as
of the date on which they are made. Except as required by law, the
Company does not intend, and undertakes no duty, to update this
information to reflect future events or circumstances.
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SOURCE RE/MAX Holdings, Inc.