DENVER, Feb. 21, 2018 /PRNewswire/ -- RE/MAX Holdings, Inc. (NYSE: RMAX), parent company of RE/MAX, LLC, one of the world's leading franchisors of real estate brokerage services, and of Motto Mortgage, an innovative mortgage brokerage franchise, announced today that its Board of Directors declared a quarterly cash dividend of $0.20 per share of Class A common stock.
"As part of our commitment to return capital to shareholders, our Board approved an 11 percent increase to our quarterly dividend," said Adam Contos, Chief Executive Officer. "The stability of our franchise business model which has strong recurring revenue and free cash flow enables us to once again increase our dividend while maintaining a disciplined approach to capital allocation."
Contos continued, "Our fundamental goal is to create long-term value for our shareholders. We remain well positioned to continue to reinvest strategically while also considering other attractive opportunities to generate future growth."
The dividend is payable on March 21, 2018 to shareholders of record at the close of business on March 7, 2018.
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 115,000 agents provide RE/MAX a global reach of over 100 countries and territories. 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, and Motto Mortgage, an innovative mortgage brokerage franchise, are subsidiaries of RMCO LLC, which is controlled and managed by RE/MAX Holdings, Inc. (NYSE: RMAX).
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 are often identified by the use of words such as "believe," "intend," "expect," "estimate," "plan," "outlook," "project," "anticipate," "may," "will," "would" and other similar words and expressions that predict or indicate future events or trends that are not statements of historical matters. Forward-looking statements include statements related to revenue, operating expenses, financial outlook, dividends, 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 accurately indicate the times at which such performance or results may 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 or 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 real estate agents and mortgage loan originators, (5) changes in laws and regulations, (6) the Company's ability to enhance, market, and protect the RE/MAX and Motto Mortgage brands, (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 Operations" 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 obligation, to update this information to reflect future events or circumstances.
SOURCE RE/MAX Holdings, Inc.