Vail Resorts Declares $2.22 Quarterly Dividend Amid Challenging Winter Season
Vail Resorts, Inc. (NYSE: MTN), a network of destination ski resorts across North America and Europe, declared a $2.22 per share quarterly cash dividend. The payment comes as the company navigates its most challenging Rocky Mountain winter in three decades.
Vail Resorts, Inc. (NYSE: MTN), a network of destination ski resorts across North America and Europe, declared a $2.22 per share quarterly cash dividend on March 9, 2026. The Board of Directors approved the payment, which will go to shareholders of record on March 26, 2026. Read more dividend announcements.
The company announced the dividend alongside its fiscal 2026 second quarter results, which showed net income of $210.0 million compared to $244.4 million in the prior year period. Resort Reported EBITDA came in at $421.3 million, down from $459.7 million a year earlier.
| Dividend Details | Date |
|---|---|
| Amount per Share | $2.22 |
| Record Date | March 26, 2026 |
| Payment Date | April 9, 2026 |
The dividend payment comes as Vail Resorts faces what CEO Rob Katz described as "the most challenging winter across the Rockies that we have ever experienced." Colorado and Utah resorts experienced the lowest snowfall levels in more than 30 years combined with warmer temperatures, reducing available terrain throughout the quarter and into February.
The company reduced its fiscal 2026 guidance, now expecting net income attributable to Vail Resorts of $144 million to $190 million and Resort Reported EBITDA of $745 million to $775 million. Despite the difficult conditions, Katz noted the company "reported only modest declines in lift revenue in what many would consider a worst-case weather scenario."
Share Repurchases and Capital Structure
Vail Resorts repurchased approximately 0.3 million shares during the quarter at an average price of approximately $139 per share, totaling $45.0 million. The company purchased roughly 0.1 million shares in December following earlier November repurchases.
As of January 31, 2026, the company's total liquidity measured $1.1 billion in cash plus revolver availability. Net debt stood at 3.1 times trailing twelve months Total Reported EBITDA.
In December, Vail Resorts drew on a $275.0 million delayed draw term loan to retire convertible notes at maturity on January 2, 2026. On February 9, 2026, the company entered into an amended credit agreement that replaces the existing term loan facility with a new $1,275.0 million senior term loan facility, extends maturity dates, and reduces the interest rate on borrowings.
Capital Investment Plans
The company reaffirmed its calendar 2026 capital plan of approximately $215 million to $220 million in core capital expenditures. Including growth capital investments at European resorts and for Resource Efficiency Transformation and real estate planning projects, Vail Resorts plans total investments of approximately $234 million to $239 million in calendar year 2026.
Vail Resorts operates 37 ski resorts including Vail Mountain, Breckenridge, Park City Mountain, Whistler Blackcomb, and Stowe across North America, along with Andermatt-Sedrun and Crans-Montana in Europe.