CDW Declares Quarterly Cash Dividend of $0.40 Per Share

Rhea-AI Summary

CDW Corporation (Nasdaq: CDW) announced a quarterly cash dividend of $0.40 per common share, reflecting a 5.3% increase from last year. The dividend will be paid on June 10, 2021, to shareholders of record as of May 25, 2021. Since its IPO in June 2013, CDW's dividend has increased over nine-fold, with approximately $3.8 billion returned to shareholders through dividends and share repurchases. The company emphasizes that dividends are a key part of its capital allocation strategy, alongside managing leverage and strategic acquisitions.

Positive

• Quarterly dividend increased by 5.3% to $0.40 per share.
• Total shareholder returns of approximately $3.8 billion since IPO.
• Dividends are a priority in capital allocation.

Negative

• None.

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 declared a quarterly cash dividend of $0.40 per common share to be paid on June 10, 2021 to all stockholders of record as of the close of business on May 25, 2021. This amount represents a 5.3 percent increase over last year’s dividend. Future dividends will be subject to Board of Director approval.

“Dividends continue to be an important part of our capital allocation priorities, along with managing leverage to our target ratio, making strategic acquisitions and share repurchases," said Collin B. Kebo, chief financial officer, CDW. "Since our IPO in June 2013, our dividend has increased over nine-fold and we have returned approximately $3.8 billion to shareholders through share repurchases and dividends. We intend to continue to execute against our capital allocation priorities to deliver value to our shareholders just as we’ve delivered value to our customers and partners for over 35 years."

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 over 10,000 coworkers. For the trailing twelve months ended March 31, 2021, CDW generated Net sales of approximately $19 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, 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, 2020 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.

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View source version on businesswire.com: https://www.businesswire.com/news/home/20210505005135/en/

FAQ

What is the CDW dividend amount for June 2021?

CDW has declared a dividend of $0.40 per common share for June 2021.

When will CDW pay its dividend in 2021?

The dividend will be paid on June 10, 2021.

What is the record date for CDW's dividend?

The record date for CDW's dividend is May 25, 2021.

How has CDW's dividend changed since its IPO?

Since its IPO in June 2013, CDW's dividend has increased over nine-fold.