CDW Authorizes $750 Million Share Repurchase Program Increase and Declares Quarterly Cash Dividend of $0.62 Per Share
07 Fevereiro 2024 - 9:05AM
Business Wire
Reinforces Ongoing Commitment to Delivering
Value to Stockholders
CDW Corporation (Nasdaq: CDW), a leading multi-brand provider of
information technology solutions to business, government, education
and healthcare customers in the United States, the United Kingdom
and Canada, 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.
About CDW
CDW Corporation (Nasdaq: CDW) is a leading multi-brand provider
of information technology solutions to business, government,
education and healthcare customers in the United States, the United
Kingdom and Canada. A Fortune 500 company and member of the S&P
500 Index, CDW was founded in 1984 and employs approximately 15,100
coworkers. For the year ended December 31, 2023, CDW generated Net
sales of approximately $21 billion. For more information about CDW,
please visit www.CDW.com.
Forward-Looking Statements
Statements in this release that are not statements of historical
fact are forward-looking statements within the meaning of the safe
harbor provisions of the Private Securities Litigation Reform Act
of 1995, including without limitation statements regarding the
future dividends, share repurchases, earnings growth, leverage
ratio and other strategic plans of CDW. These forward-looking
statements are subject to risks and uncertainties that may cause
actual results or events to differ materially from those described
in such statements. Although CDW believes that its plans,
intentions and other expectations reflected in or suggested by such
forward-looking statements are reasonable, it can give no assurance
that it will achieve those plans, intentions or expectations.
Reference is made to a more complete discussion of forward-looking
statements and applicable risks contained under the captions
"Forward-Looking Statements" and "Risk Factors" in CDW's Annual
Report on Form 10-K for the year ended December 31, 2022 and
subsequent filings with the SEC. CDW undertakes no obligation to
update or revise any of its forward-looking statements, whether as
a result of new information, future events or otherwise, except as
otherwise required by law.
CDWPR-FI
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version on businesswire.com: https://www.businesswire.com/news/home/20240207521315/en/
Investor Inquiries Steven O’Brien
Vice President, Investor Relations (847) 968-0238
investorrelations@cdw.com
Media Inquires Sara Granack Vice
President, Corporate Communications (847) 419-7411
mediarelations@cdw.com
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