Sep 13, 2021 / 06:10PM GMT
Brandt Antoine Montour - JPMorgan Chase & Co, Research Division - Analyst
Good morning, everybody. This is Brandt Montour from JPMorgan. I'm really excited to be up here with Marriott Vacations. We have Steve Weisz, the CEO; as well as John Geller, the CFO, and I will give a quick rundown of the release this morning.
The company -- I give a business update where they updated 3Q contract sales to the -- toward the lower end of the guidance range, commented on adjusted EBITDA that would approach the levels of 2019 and then gave several updates on capital allocation. They reimplemented the dividend. They announced $500 million of debt paydown and a share repurchase authorization of $250 million. 100%. 8 plus.
Stephen P. Weisz - Marriott Vacations Worldwide Corporation - CEO & Director
Right.
Questions and Answers:
Brandt Antoine Montour - JPMorgan Chase & Co, Research Division - AnalystOn the rundown. So maybe we'll just start off with those major points, and we'll take them in order. The
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