CDW Corp., Wednesday said that its board of directors has declared a quarterly cash dividend of $0.21 per common share to be paid on Dec. 11 to all stockholders of record as of the close of business on Nov. 24
This represents a 31 percent increase over last year's dividend. Future dividends will be subject to board of director approval.
"Since the IPO our annual cash dividend has increased nearly fivefold to 84 cents per share from 17 cents per share," said Ann E. Ziegler, senior vice president & chief financial officer at CDW based in Lincolnshire. "Annual dividend increases are an important component of our capital allocation strategy, along with share repurchases and strategic acquisitions, to deliver value to our shareholders just as we've delivered value to our customers and partners for more than 30 years."
CDW is a multi-brand technology solutions provider to business, government, education and health care organizations in the U.S. Canada and the United Kingdom. A Fortune 500 company with multinational capabilities, CDW was founded in 1984 and employs nearly 8,800 workers. For the trailing twelve months ended Sept. 30, the company generated net sales of nearly $15 billion.