CDW (CDW) Declares $0.1075 Quarterly Dividend; 1.1% Yield; Adds $750M to Stock Buyback Plan

CDW (NASDAQ: CDW) declared a quarterly dividend of $0.1075 per share, or $0.43 annualized.

The dividend will be payable on June 10, 2016, to stockholders of record on May 25, 2016, with an ex-dividend date of May 23, 2016.

The annual yield on the dividend is 1.1 percent.

CDW also announced that its Board of Directors has authorized a $750 million increase to the company’s common stock share repurchase program.

“Since going public in 2013, CDW has returned more than $470 million to stockholders through share repurchases and dividends,” said Ann E. Ziegler, senior vice president & chief financial officer of CDW. “Share repurchases and annual dividend increases are important components of our capital allocation strategy to deliver value to our stockholders just as we have delivered value to our customers and partners for more than 30 years."

Future dividends and share repurchase authorizations will be subject to approval by CDW’s Board of Directors. The $750 million authorization is incremental to the $141 million currently unused in the repurchase program which was initially authorized for $500 million in November 2014. Share repurchases under the program will be made from time to time in private transactions, open market purchases or other transactions as permitted by securities laws and other legal requirements. The timing and amounts of any purchases will be based on market conditions and other factors including but not limited to price, regulatory requirements and capital availability. The program does not require the purchase of any minimum dollar amount or number of shares and the program may be modified, suspended or discontinued at any time.

For a dividend history and other dividend-related data on CDW (CDW) click here.

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