FORT LAUDERDALE, Fla., June 26, 2018 (GLOBE NEWSWIRE) -- BBX Capital Corporation (NYSE:BBX) (OTCQX:BBXTB) (“BBX Capital” or the “Company”) announced today that the Company’s Class A Common Stock has been added to the Russell 3000® Index and Russell 2000® Index as part of FTSE Russell’s annual reconstitution of its family of U.S. indexes. Further, the Company’s Class A Common Stock has also been added to the Russell 2500, the Russell Mid Cap, and the Russell Small Cap. The additions took effect on market open on Monday, June 25, 2018.
Annual Russell U.S. Indexes includes the 4,000 largest U.S. stocks as of May 11th, ranking them by total market capitalization. Membership in the Russell 3000® Index, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000® Index or small-cap Russell 2000® Index as well as the appropriate growth and value style indexes. FTSE Russell determines membership for its Russell U.S. Indexes primarily by objective, market-capitalization rankings and style attributes.
“We are pleased to have BBX Capital added to the Russell indexes. Membership in the Russell indexes creates the potential to generate and raise investor awareness and brand recognition throughout the investment community globally,” commented Alan B. Levan, Chairman and Chief Executive Officer of BBX Capital.
Russell U.S. Indexes are widely used by investment managers and institutional investors as the basis for index funds and as benchmarks for active investment strategies. Approximately $9 trillion in assets are benchmarked against Russell U.S. Indexes. Russell U.S. Indexes are part of FTSE Russell, a leading global index provider.
For more information on the Russell 3000® Index and the Russell U.S. Indexes reconstitution, go to the “Russell Reconstitution” section on the FTSE Russell website.
About BBX Capital Corporation: BBX Capital Corporation (NYSE:BBX) (OTCQX:BBXTB) is a Florida-based diversified holding company whose activities include its 90 percent ownership interest in Bluegreen Vacations Corporation (NYSE:BXG) as well as its real estate and middle market divisions. For additional information, please visit www.BBXCapital.com.
About Bluegreen Vacations Corporation: Bluegreen Vacations Corporation (NYSE:BXG) is a leading vacation ownership company that markets and sells vacation ownership interests (VOIs) and manages resorts in top leisure and urban destinations. The Bluegreen Vacation Club is a flexible, points-based, deeded vacation ownership plan with approximately 212,000 owners, 67 Club and Club Associate Resorts and access to more than 11,000 other hotels and resorts through partnerships and exchange networks as of March 31, 2018. Bluegreen Vacations also offers a portfolio of comprehensive, fee-based resort management, financial, and sales and marketing services, to or on behalf of third parties. Bluegreen is 90% owned by BBX Capital Corporation (NYSE:BBX) (OTCQX:BBXTB), a diversified holding company. For further information, visit www.BluegreenVacations.com.
BBX Capital Corporation Contact Info:
Investor Relations: Leo Hinkley, Managing Director, Investor Relations Officer
954-940-5300, Email: LHinkley@BBXCapital.com
Media Relations Contacts: Kip Hunter Marketing, 954-765-1329, Nicole Lewis / Elysia Volpe
Email: nicole@kiphuntermarketing.com, elysia@kiphuntermarketing.com
This press release contains forward-looking statements based largely on current expectations of BBX Capital or its subsidiaries that involve a number of risks and uncertainties. All opinions, forecasts, projections, future plans or other statements, other than statements of historical fact, are forward-looking statements. Forward-looking statements may be identified by the use of words or phrases such as “plans,” “believes,” “will,” “expects,” “anticipates,” “intends,” “estimates,” “our view,” “we see,” “would” and words and phrases of similar import. The forward-looking statements in this press release are also forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Forward-looking statements are subject to a number of risks and uncertainties that are subject to change based on factors which are, in many instances, beyond our control and the reader should not place undue reliance on any forward-looking statement, which speaks only as of the date made. Risks and uncertainties include, without limitation, the risks that membership in the Russell indexes may not generate investor awareness or brand recognition as anticipated, if at all, and that inclusion in the indexes may not be continued in the future. In addition to the risks and factors identified above, reference is also made to the other risks and uncertainties described in BBX Capital’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2018, and its Annual Report on Form 10-K for the year ended December 31, 2017, which are available to view on the SEC's website, www.sec.gov, or on BBX Capital's website, www.BBXCapital.com. The Company cautions that the foregoing factors are not exclusive.