$HGV $VAC $TNL: Buybacks & Dividends

Analysis on past, current, and future capital returns to shareholders.

The following Research Note compares the buybacks and dividends between the three large publicly traded timeshare / vacation ownership companies.

• Hilton Grand Vacations (HGV)

• Marriott Vacations Worldwide (VAC)

• Travel + Leisure Co. (TNL)

This has become more interesting recently, given some of the large increases in capital returns and corresponding yields.