CDW Declares Quarterly Cash Dividend of $0.38 Per Share
May 06 2020 - 07:05AM
CDW Corporation (Nasdaq:CDW), a leading multi-brand technology
solutions provider 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 $0.38 per common share to be paid on
June 10, 2020 to all stockholders of record as of the close of
business on May 25, 2020. This represents a 28.8 percent
increase over last year’s dividend. Future dividends will be
subject to Board of Director approval.
“We remain confident in our liquidity position
and the cash flow generation capability of CDW’s business.
Our quarterly dividend to shareholders continues to be an important
part of our capital priorities, along with managing leverage and
being thoughtful about other areas of capital deployment. As
a result of COVID-19, we have taken actions to enhance our
liquidity, including recently issuing $600 million of senior
unsecured notes and suspending share repurchases,” said Collin B.
Kebo, chief financial officer, CDW.
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 member of the S&P
500 Index, CDW was founded in 1984 and employs over 10,000
coworkers. For the trailing twelve months ended March 31, 2020, CDW
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 (i) the impact of COVID-19 on CDW's business,
operations and liquidity, and (ii) capital priorities 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, 2019 and
subsequent filings with the SEC, including in its Prospectus
Supplement filed with the SEC on April 17, 2020. 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.
Investor
Inquiries
Brittany A. Smith
Vice President,
Investor Relations
and
Financial Planning and Analysis
847-968-0238
investorrelations@cdw.com
Media Inquires
Sara GranackVice President, Corporate
Communications847-419-7411mediarelations@cdw.com
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