Vail Resorts (NYSE: MTN) declared a quarterly dividend of $1.76 per share, or $7.04 annualized. This is a 19.7% increase from the prior dividend of $1.47.

The dividend will be payable on April 11, 2019, to stockholders of record on March 27, 2019, with an ex-dividend date of March 26, 2019.

The annual yield on the dividend is 3.5 percent.

Regarding capital allocation, Katz said, "We remain confident in the strong cash flow generation and stability of our business model. We will continue to be disciplined stewards of our capital and remain committed to strategic, high-return capital projects, continuous investment in our people, strategic acquisition opportunities and returning capital to our shareholders through our quarterly dividend and share repurchase programs. We are pleased to announce that the Board of Directors has approved a 20% increase to our quarterly dividend and declared a quarterly cash dividend on Vail Resorts' common stock of $1.76 per share, payable on April 11, 2019 to shareholders of record on March 27, 2019. Additionally, during the second quarter we repurchased 155,111 shares of our common stock at an average price of $225.64 for a total of approximately $35.0 million." Katz added, "Our balance sheet remains very strong. We ended the second quarter with $158.6 million of cash on hand and our Net Debt was 1.9 times trailing twelve months Total Reported EBITDA."

For a dividend history and other dividend-related data on Vail Resorts (MTN) click here.