CLEAR Announces $0.25 Special Cash Dividend

NEW YORK, Nov. 14, 2022 /PRNewswire/ -- Clear Secure, Inc. (NYSE: YOU) today announced that CLEAR's Board of Directors has approved and declared a special cash dividend in the amount of $0.25 per share, payable on December 7, 2022, to holders of record of Class A Common Stock and Class B Common Stock as of the close of business on November 28, 2022 (the "Record Date").

"As we wrote in our IPO prospectus letter, we are fervent believers in the AND - growth, free cash flow, AND economic capital allocation to maximize long-term returns.  Our subscription model and strong balance sheet enable us to invest in the growth of our business AND return capital to shareholders - whether in the form of opportunistic share repurchases or dividends," said Caryn Seidman-Becker, CEO.

The Company will fund the payment of the special cash dividend from proportionate cash distributions by its subsidiary, Alclear Holdings, LLC, to all of its members as of the Record Date, including holders of non-controlling interests in Alclear and the Company, of approximately $38 million.

Founded in 2010, CLEAR's mission is to create frictionless experiences. With more than 14+ million members and hundreds of partners across the world, CLEAR's identity platform is transforming the way people live, work, and travel. Whether it's at the airport, stadium, or right on your phone, CLEAR connects you to the things that make you, you making everyday experiences easier, more secure, and more seamless. Since day one, CLEAR has been committed to privacy done right. Members are always in control of their own information, and we never sell member data.

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 for the fiscal year ended December 31, 2021 and Quarterly Report on Form 10-Q for the quarter ended September 30, 2022. The Company disclaims any obligation to update any forward-looking statements contained herein.

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SOURCE CLEAR