Wyndham Hotels & Resorts, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

Earnings Per Share

3 Months Ended

Mar. 31, 2021


4. EARNINGS PER SHARE

The computation of basic and diluted earnings per share (“EPS”) is based on net income divided by the basic weighted average number of common shares and diluted weighted average number of common shares, respectively.

The following table sets forth the computation of basic and diluted EPS (in millions, except per share data):


	Three Months Ended March 31,
	2021		2020
Net income	$	24	$	22

Basic weighted average shares outstanding	93.4		93.7
Stock options and restricted stock units (“RSUs”)	0.4		0.2
Diluted weighted average shares outstanding	93.8		93.9

Earnings per share:
Basic	$	0.26	$	0.23
Diluted	0.26		0.23

Dividends:
Cash dividends declared per share	$	0.16	$	0.32
Aggregate dividends paid to shareholders	$	15	$	30

Stock repurchase program

The following table summarizes stock repurchase activity under the current stock repurchase program (in millions, except per share data):


	Shares	Cost		Average Price Per Share
As of December 31, 2020	7.7	$	408	$	53.43
For the three months ended March 31, 2021	—	—		—
As of March 31, 2021	7.7	$	408	$	53.43

The Company had $191 million of remaining availability under its program as of March 31, 2021. On March 17, 2020, the Company suspended its share repurchase activity and as a condition of the April 2020 amendment to its revolving credit agreement, the Company was restricted from repurchasing shares of its stock until the waiver amendment expired on April 1, 2021 unless the Company elected to terminate the amendment earlier, which it did not.