NEW
YORK, Nov. 8, 2023 /PRNewswire/ -- Clear Secure,
Inc. (NYSE: YOU) ("CLEAR" or the "Company") today announced that
its Board of Directors (the "Board") declared a quarterly dividend
of $0.09 per share, up from
$0.07 last quarter, and a special
cash dividend of $0.55 per share,
each payable on November 22, 2023 to
holders of record of Class A Common Stock and Class B Common Stock
as of the close of business on November 16,
2023.
The Company will fund the payment of the dividends from
proportionate cash distributions by its subsidiary.
In addition, the Company announced that its Board authorized a
$100 million increase to its existing
Class A Common Stock share repurchase program, resulting in an
aggregate remaining authorization of approximately $128 million.
"Capital allocation remains a key priority. With today's
dividend announcement and year-to-date repurchases, we will have
returned over $200 million to
shareholders in 2023 so far," said Kenneth
Cornick, CLEAR's President and Chief Financial Officer.
The declaration, timing and amount of any future dividends will
be subject to the discretion and approval of the Board and will
depend on a number of factors, including CLEAR's results of
operations, cash flows, financial position and capital
requirements, as well as general business conditions, legal, tax
and regulatory restrictions and other factors the Board deems
relevant at the time it determines to declare such dividends. The
timing and actual number of shares repurchased pursuant the
Company's repurchase program will be determined by management
depending on a variety of factors, including stock price, trading
volume, market conditions, and other general business
considerations.
About CLEAR
CLEAR's mission is to create frictionless
experiences. With nearly 19 million members and a growing network
of partners across the world, CLEAR's identity platform is
transforming the way people live, work, and travel. Whether you are
traveling, at the stadium, or on your phone, CLEAR connects you to
the things that make you, you – making everyday experiences easier,
more secure, and friction-free. CLEAR is committed to privacy done
right. Members are always in control of their own information, and
we never sell member data. For more information,
visit clearme.com.
Forward-Looking Statements
This release may contain
statements that constitute forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
Investors are cautioned that any and such forward-looking
statements are not guarantees of future performance or results and
involve risks and uncertainties, and that actual results,
developments and events may differ materially from those in the
forward-looking statements as a result of various factors,
including those described in the Company's filings within the
Securities and Exchange Commission, including the sections titled
"Risk Factors" in our Annual Report on Form 10- K and Quarterly
Report on Form 10-Q for the quarter ended June 30, 2023. The Company disclaims any
obligation to update any forward-looking statements contained
herein.
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SOURCE CLEAR