Camping World Initiates Dividend Program and Declares Initial Dividend

November 21, 2016

LINCOLNSHIRE, Ill.--(BUSINESS WIRE)-- Camping World Holdings Inc. (NYSE:CWH) (the “Company,” “Camping World,” “we,” “us” or “our”), announced today that its Board of Directors declared a cash dividend of $0.08 per share on the Company’s Class A Common Stock and equivalent payments to the common unit holders of CWGS Enterprises, LLC. Payment will be made on December 20, 2016, to stockholders of record at the close of business on December 7, 2016.

Camping World intends to pay a regular quarterly cash dividend to the holders of its Class A common stock, funded by a regular quarterly cash distribution by CWGS Enterprises, LLC to all common unit holders. The dividend initiation is occurring three months earlier and at a higher level than anticipated in the prospectus (the “Prospectus”), dated October 6, 2016, filed with the Securities and Exchange Commission in accordance with Rule 424(b) of the Securities Act of 1933, as amended, on October 11, 2016 in connection with Camping World’s initial public offering (the “IPO”).

“We are pleased to initiate our quarterly dividend program, which not only follows through on what we told investors during our IPO, but is also sooner and higher than initially expected. We believe this demonstrates our confidence in our growth prospects, free cash flow generation and long-term financial outlook” said Marcus Lemonis, Chairman and Chief Executive Officer. “This dividend program reinforces our commitment to delivering value to our shareholders, while continuing to invest in our business and maintaining our strong balance sheet.”

Thomas Wolfe, Chief Financial Officer added, “We intend to initiate the regular quarterly cash dividend at $0.08 per share, as compared to $0.0605 per share disclosed in our Prospectus. Going forward, we will evaluate our dividend level based on our net income and free cash flow.”

Future declarations of quarterly dividends are subject to the determination and discretion of Camping World’s Board of Directors based on its consideration of various factors, including the Company’s results of operations, financial condition, level of indebtedness, anticipated capital requirements, contractual restrictions, restrictions in its debt agreements, restrictions under applicable law, its business prospects and other factors that Camping World’s Board of Directors may deem relevant. In addition to the regular quarterly dividend, Camping World intends to pay a special cash dividend of all or a portion of excess tax distributions to holders of Camping World Class A common stock commencing in 2017.

About Camping World Holdings, Inc.

Camping World Holdings Inc. (NYSE: CWH) is the only provider of a comprehensive portfolio of services, protection plans, products and resources for recreational vehicle (“RV”) enthusiasts. Through its two iconic brands, Camping World and Good Sam, the Company offers new and used RVs for sale, vehicle service and maintenance along with more than 10,000 products and services through its retail locations and membership clubs. Good Sam branded offerings provide the industry’s broadest and deepest range of services, protection plans, products and resources while the Camping World brand operates the largest national network of RV-centric retail locations in the United States through 120 retail locations in 36 states and an e-commerce platform. With both brands founded in 1966, product and service offerings are based on 50 years of experience and customer feedback from RV enthusiasts.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 concerning Camping World and other matters. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including, without limitation, statements regarding our payment of a cash dividend, the declaration and payment of future regular quarterly dividends, our intention to pay a special cash dividend of excess tax distributions, our expectations regarding growth, free cash flow generation, and financial outlook, and our intention to invest in our business and maintain a strong balance sheet.. In some cases, you can identify forward-looking statements by terms such as ‘‘may,’’ ‘‘will,’’ ‘‘should,’’ ‘‘expects,’’ ‘‘plans,’’ ‘‘anticipates,’’ ‘‘could,’’ ‘‘intends,’’ ‘‘targets,’’ ‘‘projects,’’ ‘‘contemplates,’’ ‘‘believes,’’ ‘‘estimates,’’ ‘‘predicts,’’ ‘‘potential’’ or ‘‘continue’’ or the negative of these terms or other similar expressions. The forward-looking statements in this press release are only predictions. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our business, financial condition and results of operations. Forward-looking statements involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. You should carefully consider the risks and uncertainties that affect our business, including those described in our filings with the Securities and Exchange Commission, including under the caption “Risk Factors” in Item 1A of our Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission, or SEC, on November 10, 2016. These forward-looking statements speak only as of the date of this communication. Except as required by applicable law, we do not plan to publicly update or revise any forward-looking statements, whether as a result of any new information, future events or otherwise. You are advised, however, to consult any further disclosures we make on related subjects in our public announcements and filings with the Securities and Exchange Commission.

Source: Camping World Holdings Inc.


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