CLEAR announced quarterly and special cash dividends, and increased its share repurchase program by $200 million.
Quiver AI Summary
Clear Secure, Inc. announced a quarterly dividend of $0.125 per share and a special cash dividend of $0.27 per share, both payable on March 18, 2025, to shareholders of record by March 10, 2025. The dividends will be funded through cash distributions from Alclear Holdings, LLC. Additionally, the company increased its Class A Common Stock share repurchase program by $200 million, allowing for approximately $232 million in remaining authorization. Future dividends and repurchases will depend on various factors, including the company's financial performance and market conditions. CLEAR's mission is to enhance user experiences through its identity platform, prioritizing member privacy and data security.
Potential Positives
- The declaration of a quarterly dividend of $0.125 per share and a special cash dividend of $0.27 per share enhances shareholder returns and demonstrates the company's commitment to returning capital to its shareholders.
- The increase of $200 million to the existing Class A Common Stock share repurchase program signals confidence in the company's financial health and ongoing commitment to shareholder value through stock buybacks.
- The company's substantial member base of over 27 million and a growing network of partners showcases its market penetration and potential for continued growth in the identity verification sector.
Potential Negatives
- The funding of the dividends is contingent upon cash distributions from Alclear Holdings, LLC, which may raise concerns about reliance on external entities for financial stability.
- The Board's discretion over future dividends and share repurchases suggests uncertainty regarding the company's financial outlook and performance.
- The mention of various factors that could affect future dividends indicates potential financial instability or volatility in operational results.
FAQ
What is the recent dividend declared by CLEAR Secure?
CLEAR Secure announced a quarterly dividend of $0.125 per share and a special cash dividend of $0.27 per share.
When will the dividends be paid to shareholders?
The dividends are payable on March 18, 2025, to shareholders of record as of March 10, 2025.
How is CLEAR funding its dividend payments?
The dividends are funded from cash distributions made by Alclear Holdings, LLC, including mandatory and discretionary distributions.
What is the total authorized amount for CLEAR's share repurchase program?
The Board authorized a $200 million increase, bringing the total remaining authorization to approximately $232 million.
What factors influence the future declaration of dividends by CLEAR?
The declaration of future dividends depends on operations, cash flows, financial position, and other business conditions as assessed by the Board.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$YOU Insider Trading Activity
$YOU insiders have traded $YOU stock on the open market 16 times in the past 6 months. Of those trades, 0 have been purchases and 16 have been sales.
Here’s a breakdown of recent trading of $YOU stock by insiders over the last 6 months:
- KENNETH L. CORNICK (President & CFO) has made 0 purchases and 7 sales selling 979,935 shares for an estimated $31,410,501.
- INVESTMENTS II, LLC ALCLEAR has made 0 purchases and 6 sales selling 900,000 shares for an estimated $29,009,254.
- MICHAEL Z BARKIN has made 0 purchases and 2 sales selling 25,000 shares for an estimated $716,001.
- DENNIS W. LIU (Chief Accounting Officer) sold 1,500 shares for an estimated $46,575
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$YOU Hedge Fund Activity
We have seen 190 institutional investors add shares of $YOU stock to their portfolio, and 161 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- DELTA AIR LINES, INC. removed 4,277,958 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $113,964,801
- PACER ADVISORS, INC. added 3,039,236 shares (+24161.2%) to their portfolio in Q4 2024, for an estimated $80,965,247
- FMR LLC removed 1,802,989 shares (-27.3%) from their portfolio in Q4 2024, for an estimated $48,031,626
- GOLDMAN SACHS GROUP INC removed 1,474,997 shares (-55.1%) from their portfolio in Q4 2024, for an estimated $39,293,920
- ARROWSTREET CAPITAL, LIMITED PARTNERSHIP added 1,463,748 shares (+112.3%) to their portfolio in Q4 2024, for an estimated $38,994,246
- WELLINGTON MANAGEMENT GROUP LLP added 1,422,999 shares (+74.9%) to their portfolio in Q4 2024, for an estimated $37,908,693
- WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC added 1,415,044 shares (+inf%) to their portfolio in Q4 2024, for an estimated $37,696,772
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
NEW YORK, Feb. 21, 2025 (GLOBE NEWSWIRE) -- Clear Secure, Inc. (NYSE: YOU) ("CLEAR" or the "Company") today announced that its Board of Directors (the “Board”) declared a quarterly dividend of $0.125 per share, and a special cash dividend of $0.27 per share, each payable on March 18, 2025 to holders of record of Class A Common Stock and Class B Common Stock as of the close of business on March 10, 2025.
The Company will fund the payment of the dividends from proportionate cash distributions made by Alclear Holdings, LLC to all of its members, including the Company. The distributions consist of a mandatory tax distribution as well as a discretionary distribution.
In addition, the Company announced that its Board authorized a $200 million increase to its existing Class A Common Stock share repurchase program, resulting in an aggregate remaining authorization of approximately $232 million after using approximately $68 million subsequent to Q324.
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 over 27 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. The Company disclaims any obligation to update any forward-looking statements contained herein.
Media Contact:
CLEAR
media@clearme.com
This press release was published by a CLEAR® Verified individual.
This article was originally published on Quiver News, read the full story.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
