CDW Corporation - CDW STOCK NEWS

CDW Canada's new research reveals significant unauthorized use of Generative AI (GenAI) tools in Canadian workplaces. The study shows 47 percent of Canadian workers are using unregulated AI tools, with 33 percent using them weekly. Employee confidence in AI increases when organizations take the lead, with 61 percent feeling comfortable when tools are officially implemented.

The research highlights that mid and senior-level employees are the primary users of unapproved GenAI tools, with 38 percent and 37 percent respectively using them without approval. While 36 percent of organizations plan to implement AI tools, 73 percent haven't sought third-party support, putting pressure on internal IT teams.

CDW has announced a quarterly cash dividend increase of 1% to $0.625 per share, payable on December 10, 2024, to stockholders of record as of November 25, 2024. The dividend aligns with the company's target of 25% of trailing-twelve-month Non-GAAP net income through September 30, 2024. Since its IPO in 2013, CDW's dividend has grown nearly fifteen-fold with eleven consecutive years of increases. The company has returned approximately $6.9 billion to stockholders through share repurchases and dividends.

CDW reported third quarter 2024 financial results with net sales of $5.52 billion, down 2.0% from Q3 2023. The company maintained a gross profit margin of 21.8%, while operating income increased slightly by 0.7% to $482 million. Net income remained stable at $316 million, with earnings per diluted share increasing 1.0% to $2.34. The decline in net sales was primarily driven by lower performance in Public and Corporate segments, partially offset by growth in UK and Canadian operations. The company announced a quarterly cash dividend of $0.625 per share.

CDW announced key changes to its executive leadership team as part of its succession planning strategy. Chief Commercial and Operating Officer Chris Corley will transition to a new role as President, International and Vice Chair, focusing on accelerating the company's growth strategy and international businesses. Liz Connelly will expand her responsibilities as Chief Commercial Officer, overseeing U.S. sales, sales enablement, integrated technology solutions, and digital velocity. Connelly joined CDW in 2018 after a successful career at J.P. Morgan Chase.

CDW (Nasdaq: CDW), a leading multi-brand provider of information technology solutions, has announced it will host a webcast conference call to discuss its third quarter 2024 results on Wednesday, October 30, 2024, at 7:30 a.m. CT/8:30 a.m. ET. The live webcast, including audio and slides, will be accessible at investor.CDW.com.

The press release and presentation slides will be posted on the website prior to the call. Interested parties are advised to visit the website at least fifteen minutes before the call to register and download any necessary software. A taped replay of the webcast will be available on the website shortly after the call concludes. For any questions, investors can email investorrelations@cdw.com.

CDW Canada's 2024 Canadian Hybrid Cloud Report reveals key insights into cloud and AI adoption among Canadian organizations. 59% plan to use multiple public clouds in the next two years, but 34% face interoperability issues. 35% struggle with IT talent shortages in hybrid, multicloud environments. Only 36% use unified cloud management platforms, important for operational efficiency.

The report highlights the rise of AI, with 55% of organizations investing in AI, but only 3% have fully prepared data infrastructure. IoT adoption is widespread, with 81% having IoT projects in production, but 46% are concerned about rising cyberthreats. The study emphasizes the need for improved infrastructure, governance, and cybersecurity measures to achieve cloud maturity and maximize the benefits of hybrid, multicloud ecosystems.

CDW (Nasdaq: CDW), a leading multi-brand provider of IT solutions, has announced its participation in the Citi 2024 Global TMT Conference. Christine A. Leahy, chair and CEO, and Albert J. Miralles, senior VP and CFO, will engage in a Q&A session on September 4, 2024, at 11:30 a.m. CT/12:30 p.m. ET at the Lotte New York Palace Hotel.

The presentation will be webcast live on investor.CDW.com, with an archived copy available for one year after the event. CDW serves business, government, education, and healthcare customers across the United States, United Kingdom, and Canada.

CDW has announced the results of its cash tender offers for outstanding 5.500% Senior Notes due 2024 and 4.125% Senior Notes due 2025. The tender offers, which expired on August 16, 2024, resulted in $391,412,000 of the 5.500% Notes and $388,687,000 of the 4.125% Notes being tendered. CDW has accepted all validly tendered Notes for purchase and expects to settle the transactions on August 22, 2024.

Additionally, CDW priced a $1,200,000,000 New Notes Offering on August 12, 2024, with the proceeds intended to fund the purchase of the tendered Notes. The company plans to close the New Notes Offering on August 22, 2024, subject to customary conditions.

CDW has announced the pricing terms for its cash tender offer to purchase all outstanding 4.125% Senior Notes due 2025 and 5.500% Senior Notes due 2024. The consideration offered is $992.26 per $1,000 principal amount for the 4.125% Notes and $1,000 per $1,000 principal amount for the 5.500% Notes. The tender offers will expire on August 16, 2024, at 5:00 p.m. New York City time, unless extended or terminated earlier. CDW expects to pay for validly tendered Notes on August 22, 2024. The offers are not conditioned on a minimum amount of Notes being tendered. BofA Securities and J.P. Morgan Securities are acting as Joint Dealer Managers for the tender offers.