Avnet (AVT) Raises Quarterly Dividend 5.3% to $0.20; Approves $500M Buyback

Avnet (NASDAQ: AVT) declared a quarterly dividend of $0.20 per share, or $0.8 annualized. This is a 5.3% increase from the prior dividend of $0.19.

The dividend will be payable on September 20, 2018, to stockholders of record on September 10, 2018, with an ex-dividend date of September 7, 2018.

The annual yield on the dividend is 1.6 percent.

Avnet's Board of Directors approved an expansion of the company’s current share repurchase authorization by $500 million. Avnet now has $722 million available for share repurchases when combined with prior authorizations.

Chief Executive Officer Bill Amelio commented, “The Board’s decision to expand our share repurchase program and increase Avnet’s dividend sends a strong positive signal to the investment community. These actions underscore Avnet’s commitment to create and deliver increased value to shareholders in the short term, while providing confidence that we’re successfully driving toward our longer-term growth goals.”

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

You May Also Be Interested In

• Avnet (AVT) files mixed shelf
• Cboe Global Markets (CBOE) Raises Quarterly Dividend 19.4% to $0.86; 1.2% Yield
• Z Squared outlines AI power strategy and Paradox Data acquisition