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NEWS Neal Goldner Investor Relations Marriott Vacations Worldwide Corporation 407.206.6149 Neal.Goldner@mvwc.com Erica Ettori Global Communications Marriott Vacations Worldwide Corporation 407.513.6606 Erica.Ettori@mvwc.com Marriott Vacations Worldwide ( “ MVW ” ) Reports Third Quarter 2021 Financial Results ORLANDO , Fla . - November 8 , 2021 – Marriott Vacations Worldwide Corporation ( NYSE : VAC ) today reported third quarter 2021 financial results . " Occupancies at our resorts this quarter were very strong despite the Delta variant and contract sales were within 3 % of 2019 levels , driving 25 % sequential growth in Adjusted EBITDA and exceeding 2019 for the first time since the pandemic began , " said Stephen P. Weisz , chief executive officer . " First time buyers represented more than 30 % of contract sales in the third quarter , which is important for the long - term health of the system . The fourth quarter has started well with October contract sales above 2019 levels and reservations on the books for the first half of next year are already strong . " Third Quarter 2021 Highlights and Operational Update : Consolidated Vacation Ownership contract sales totaled $ 380 million in the third quarter of 2021 , with VPG 24 % higher than the third quarter of 2019 . Net income attributable to common shareholders was $ 10 million , or $ 0.23 fully diluted earnings per share . Adjusted net income attributable to common shareholders was $ 70 million and adjusted fully diluted earnings per share was $ 1.60 . ● MARRIOTT VACATIONS WORLDWIDE ● ● Adjusted EBITDA increased 25 % on a sequential basis to $ 205 million in the third quarter of 2021 , 8 % higher than the third quarter of 2019 . O Adjusted EBITDA margin ( excluding cost reimbursements ) was 27 % , the Company's highest quarterly Adjusted EBITDA margin as a stand alone public company . During the quarter , the Company's Board of Directors authorized a share repurchase program of up to $ 250 million and declared a quarterly cash dividend of $ 0.54 per share of common stock , which was paid in October 2021 . In September , the Company repaid the remaining $ 250 million of its 6.50 % Senior Unsecured Notes due 2026 and , subsequent to the end of the quarter , repaid $ 250 million of its 6.125 % Senior Secured Notes due 2025 . With recovery in the business expected to continue , the Company projects contract sales of $ 385 million to $ 405 million in the fourth quarter of 2021 .