CDW boosts dividend by 1% to 62.5c per share

CDW (CDW) Corporation announced that its Board of Directors has declared a quarterly cash dividend of 62.5c per common share to be paid on December 10 to all stockholders of record as of the close of business on November 25 . This amount represents approximately a 1% t increase over last year’s dividend and is aligned with the target of 25 percent of the trailing-twelve-month Non-GAAP net income through September 30 . Future dividends will be subject to Board of Director approval. “Dividends represent an important component of our capital allocation priorities, along with share repurchases, strategic M&A and managing our capital structure.” said Albert J. Miralles, chief financial officer, CDW. “Since our IPO in June 2013, our dividend has increased nearly fifteen-fold, with eleven consecutive years of increases, and we have returned approximately $6.9 billion to stockholders through share repurchases and dividends. 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 40 years.”