CDW Increases Quarterly Cash Dividend 5% to $0.62 Per Share
01 November 2023 - 10:05PM
Business Wire
Reinforces Ongoing Commitment to Delivering
Value to Stockholders
CDW Corporation (Nasdaq: CDW), a leading multi-brand provider of
information technology solutions to business, government, education
and healthcare customers in the United States, the United Kingdom
and Canada, today announced that its Board of Directors has
declared a quarterly cash dividend of $0.62 per common share to be
paid on December 12, 2023 to all stockholders of record as of the
close of business on November 24, 2023. This amount represents a 5
percent increase over last year's dividend and approximately 25
percent of the trailing-twelve-month Non-GAAP net income through
September 30, 2023. Future dividends will be subject to Board of
Director approval.
"Dividends and share repurchases continue to be an important
part of our capital allocation priorities, along with strategic
M&A and managing our capital structure," said Albert J.
Miralles, chief financial officer, CDW. "The fourth quarter 2023
dividend demonstrates our confidence in the earnings power and cash
flow generation of the business and marks the tenth consecutive
year of increases since our IPO in June 2013, with the dividend
growing at a compound annual growth rate of approximately 31
percent from its initial level. Our capital allocation strategy has
enabled us to deliver value to our stockholders, just as we have
delivered value to our customers and partners for nearly 40
years."
About CDW
CDW Corporation (Nasdaq: CDW) is a leading multi-brand provider
of information technology solutions to business, government,
education and healthcare customers in the United States, the United
Kingdom and Canada. A Fortune 500 company and member of the S&P
500 Index, CDW was founded in 1984 and employs approximately 15,000
coworkers. For the trailing twelve months ended September 30, 2023,
CDW generated Net sales of approximately $22 billion. For more
information about CDW, please visit www.CDW.com.
Forward-Looking Statements
Statements in this release that are not statements of historical
fact are forward-looking statements within the meaning of the safe
harbor provisions of the Private Securities Litigation Reform Act
of 1995, including without limitation statements regarding the
future dividends, earnings growth, capital allocation and other
strategic plans of CDW. These forward-looking statements are
subject to risks and uncertainties that may cause actual results or
events to differ materially from those described in such
statements. Although CDW believes that its plans, intentions and
other expectations reflected in or suggested by such
forward-looking statements are reasonable, it can give no assurance
that it will achieve those plans, intentions or expectations.
Reference is made to a more complete discussion of forward-looking
statements and applicable risks contained under the captions
"Forward-Looking Statements" and "Risk Factors" in CDW's Annual
Report on Form 10-K for the year ended December 31, 2022 and
subsequent filings with the SEC. CDW undertakes no obligation to
update or revise any of its forward-looking statements, whether as
a result of new information, future events or otherwise, except as
otherwise required by law.
CDWPR-FI
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version on businesswire.com: https://www.businesswire.com/news/home/20231101950761/en/
Investor Inquiries Steven O’Brien
Vice President, Investor Relations (847) 968-0238
investorrelations@cdw.com
Media Inquires Sara Granack Vice
President, Corporate Communications (847) 419-7411
mediarelations@cdw.com
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