CDW (CDW) Announces $750M Share Buyback, Declares $0.62 Dividend

CDW Corporation (Nasdaq: CDW) today announced that its Board of Directors has authorized a $750 million increase to the company’s share repurchase program and declared a quarterly cash dividend. The cash dividend of $0.62 per common share will be paid on March 12, 2024 to all stockholders of record as of the close of business on February 26, 2024. This amount represents a 5 percent increase over last year’s dividend.

“Since our IPO in June 2013, our dividend has increased nearly fifteen-fold from its initial level and we have returned more than $6.3 billion to stockholders through dividends and share repurchases,” said Albert J. Miralles, chief financial officer, CDW. “Our capital allocation strategy continues to emphasize dividend growth, along with managing our net leverage and making strategic acquisitions, in addition to share repurchases. This strategy has enabled us to deliver value to our stockholders just as we have delivered value to our customers and partners for 40 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 approximately $338 million remaining from the previous repurchase program as of December 31, 2023. 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.

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