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Management will recommend a second quarter dividend of $0.45 per share for approval by the Company’s Board of Directors in May 2023. Share Repurchases — During the primary quarter of 2023, the Company repurchased 2.5 million shares of frequent inventory for $102 million at a weighted common price of $40.thirteen per share. As of March 31, 2023, the Company had $375 million remaining in its share repurchase authorization. Timeshare Receivables Financing — Subsequent to the top of the first quarter, the Company closed on a $250 million time period securitization transaction with a weighted average coupon of 6.3% and a 91.3% advance price. Travel and Membership revenue of $200 million in the first quarter of 2023 was flat compared to the identical interval in the prior 12 months, as revenue per transaction progress of 2% was offset by a 2% lower in transactions.
Though some …