Reinforces Ongoing Commitment to Delivering Value to Stockholders
LINCOLNSHIRE, Ill., Oct. 31, 2018 (GLOBE NEWSWIRE) -- CDW Corporation (NASDAQ:CDW), today announced that its Board of Directors has declared a quarterly cash dividend of $0.295 per common share to be paid on December 10, 2018, to all stockholders of record as of the close of business on November 26, 2018. This represents a 40 percent increase over last year’s dividend. Future dividends will be subject to Board of Director approval.
“Annual dividend increases are an important part of our capital allocation strategy, along with maintaining our leverage ratio, making strategic acquisitions and share repurchases,” said Collin B. Kebo, Senior Vice President & Chief Financial Officer, CDW. “Since our IPO in June 2013, our dividend has increased nearly seven-fold and we have returned more than $1.7 billion to shareholders through share repurchases and dividends. We intend to continue to execute against our capital allocation priorities with the enhanced free cash flow from tax reform.”
CDW is a leading multi-brand technology solutions provider to business, government, education and healthcare organizations in the United States, Canada and the United Kingdom. A Fortune 500 company with multi-national capabilities, CDW was founded in 1984 and employs more than 8,900 coworkers. For the trailing twelve months ended September 30, 2018, the company generated net sales of approximately $16 billion. For more information about CDW, please visit www.CDW.com.