CDW Declares Quarterly Cash Dividend of $0.40 Per Share
November 02 2020 - 7:05AM
Business Wire
Reinforces Ongoing Commitment to Delivering
Value to Stockholders
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 $0.40 per common share to be paid on
December 10, 2020 to all stockholders of record as of the close of
business on November 25, 2020. This amount represents a 5.3 percent
increase over last year’s dividend and approximately 25 percent of
the trailing-twelve-month Non-GAAP net income through September.
Future dividends will be subject to Board of Director approval.
“The fourth quarter 2020 dividend marks the seventh consecutive
year of increases since our initial public offering in 2013, with
the dividend growing at a compound annual growth rate of 38 percent
from its initial level. The increase reflects our strong liquidity
position and the cash flow generation capability of CDW's
business," said Collin B. Kebo, chief financial officer, CDW.
"Dividends continue to be an important part of our capital
allocation priorities, along with making strategic acquisitions,
managing leverage to our target ratio and share repurchases."
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 approximately 10,000 coworkers.
For the trailing twelve months ended September 30, 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 2019 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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Investor Inquiries Brittany A.
Smith Vice President, Investor Relations and Financial Planning and
Analysis (847) 968-0238 investorrelations@cdw.com Media Inquires Sara Granack Vice President,
Corporate Communications (847) 419-7411 mediarelations@cdw.com
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