Travel + Leisure raises quarterly dividend to 45c per share from 40c

The board of directors of Travel + Leisure Co. declared a regular cash dividend on the company’s common stock, increasing the quarterly dividend rate to 45c per share, up from 40c per share. The dividend is payable March 31, 2023 to shareholders of record as of March 15, 2023. On an annualized basis, the dividend increases to $1.80 per share, up over 12% from the annualized level of $1.60 per share that was in place one year ago. "We are excited about the leisure travel momentum that has continued into 2023. Our results demonstrate the quality of our consumers and our ability to capitalize on the strong leisure travel market to drive earnings and adjusted free cash flow, which we are able to pass on to shareholders through an increase in the quarterly dividend," said Mike Hug, chief financial officer of Travel + Leisure Co.