In a pair of SEC filings, Camping World Holdings (CWH -1.3%) says that in the past few days it has expanded its board first to seven members, then to eight.
On Tuesday the board increased from six to seven to make room for Mary George as a Class I director. George, who was put on the Audit Committee, has been a founding partner of Morningstar Capital Investments since 2001, and most recently served as CEO at Easton Hockey Holdings.
Yesterday, the board expanded to eight members and elected Daniel Kilpatrick as a Class II director. He's a principal at private-equity firm Crestview Advisors.
The dividend announcement from Camping World (NYSE:CWH) today is notable because it came in earlier than expected and at a higher payout rate ($0.08 vs. $0.0605 anticipated) than what the company set out in its IPO prospectus.
"We believe this demonstrates our confidence in our growth prospects, free cash flow generation and long-term financial outlook," says CEO Marcus Lemonis.
Camping World closed at $23.98 on Friday. The company priced its IPO at $22 in October.
With 11.4M shares for sale, the company raised $251M in the offering.
The company, a national network of RV-focused retail locations numbering 120 nationwide, had $3.33B in revenues last year and noted net income of $120.5M for the six months ended June 30, up 10.9% Y/Y.