CDW Declares Quarterly Cash Dividend of $0.380 Per Share
February 06 2020 - 7:05AM
CDW Corporation (Nasdaq:CDW), today announced that its Board of
Directors has declared a quarterly cash dividend of $0.380 per
common share to be paid on March 10, 2020 to all stockholders of
record as of the close of business on February 25, 2020. This
represents a 28.8 percent increase over last year’s dividend.
Future dividends will be subject to Board of Director approval.
“Annual dividend increases are an important part
of our capital allocation strategy, along with maintaining our
leverage ratio, making strategic acquisitions and share
repurchases," said Collin B. Kebo, chief financial officer, CDW.
“Since our IPO in June 2013, our dividend has increased nearly
nine-fold and we have returned more than $2.9 billion to
shareholders through share repurchases and dividends. We intend to
continue to execute against our capital allocation priorities to
deliver value to our shareholders just as we’ve delivered value to
our customers and partners for over 35 years.”
About CDW
CDW Corporation (Nasdaq:CDW) is a leading
multi-brand technology solutions provider to business, government,
education and healthcare customers in the United States, the United
Kingdom and Canada. A Fortune 500 company and a member of the
S&P 500 Index, CDW was founded in 1984 and employs almost
10,000 coworkers. For the year ended December 31, 2019, the company
generated Net sales over $18 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,
leverage ratio and other strategic plans of CDW. These statements
involve risks and uncertainties that could cause actual results to
differ materially from those described in such statements. Although
CDW believes that the expectations reflected in such
forward-looking statements are reasonable, it can give no assurance
that such expectations will prove to have been correct. 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, 2018 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, unless required by
law.
Investor Inquiries
Brittany A. SmithVice President, Investor
Relations and Financial Planning and
Analysis847-968-0238investorrelations@cdw.com
Media Inquiries
Sara GranackVice President, Corporate
Communications847-419-7411mediarelations@cdw.com
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