BACKUP DATABASE error

[mdavtec]

Hard coded path works fine:
BACKUP DATABASE [MYDB] TO DISK = 'C:\ProgramData\SQLServerBackup_HC.bak'

Using variable in path doesn't work:
Set Variable PROGRAMDATAFOLDER to C:\ProgramData
BACKUP DATABASE [MYDB] TO DISK = '$PROGRAMDATAFOLDER$\SQLServerBackup_VAR.bak'

It tries to append the DISK path to C:\Program Files (x86)\Microsoft SQL Server\MSSQL11.MYINST\MSSQL\Backup
Error in the event log:
BackupDiskFile::CreateMedia: Backup device 'C:\Program Files (x86)\Microsoft SQL Server\MSSQL11.MYINST\MSSQL\Backup\ C:\ProgramData\SQLServerBackup_VAR.bak' failed to create. Operating system error 123(The filename, directory name, or volume label syntax is incorrect.).

Thanks in advance.

[mdavtec]

Not sure what I was doing wrong, but it is now working. Please ignore my question.