About ILX - News Releases
ILX Resorts Announces Payment Of First Common Stock Dividend
ILX Resorts Incorporated (AMEX:ILX) announced today the payment of the first dividend to common shareholders in its history. Common shareholders of record on March 31, 2003 were paid a dividend of $0.10 per share. The annual dividend of $0.40 per share, payable quarterly, was declared on December 18, 2002, and on March 4, 2003, the Company adopted a dividend reinvestment plan.
“We are enormously pleased to have achieved the sustained performance levels that support both payment of a dividend to our shareholders and investment in our future growth, “ said Nancy Stone, President and COO of ILX Resorts. “We share the enthusiasm and confidence in our potential demonstrated by the holders of more than 47% of our outstanding common shares who have chosen to reinvest their dividends in additional ownership of ILX Resorts.”
ILX Resorts acquires, develops, and operates premier timeshare resorts primarily in the western United States that provide its owners with extraordinary vacation experiences. ILX´s portfolio of world-class properties includes eight resorts in Arizona, one in Indiana, one in Colorado, one in San Carlos, Mexico and land in Puerto Peñasco ("Rocky Point"), Mexico and Sedona, Arizona, both of which are in the early planning stages. It also, through Premiere Vacation Club, has acquired, and continues to acquire, inventory at the Carriage House in Las Vegas and in addition has acquired inventory at the Scottsdale Camelback Resort in Scottsdale, Arizona. For more information, visit: www.ilxresorts.com.
For more information, contact Joseph P. Martori, Chairman or Margaret Eardley, Chief Financial Officer, at 602-957-2777.
This news release may include "forward-looking statements." Forward-looking statements are based on current expectations and assumptions and are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified and many of which are beyond the Company´s control. Actual results could differ materially from these forward-looking statements as a result of a number of factors, including but not limited to, economic conditions, the Company´s need for additional financing, intense competition in various aspects of its business, the risks of growth, its dependence on key personnel, and other risks detailed in ILX´s Securities and Exchange Commission reports. Given these risks and uncertainties, investors are cautioned not to place undue reliance on such forward-looking statements and no assurances can be given that such statements will be achieved. ILX Resorts Incorporated does not assume any duty to publicly update or revise the material contained herein.
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