CDW Increases Quarterly Cash Dividend 18% to $0.59 Per Share

Rhea-AI Summary

CDW Corporation has declared a quarterly cash dividend of $0.59 per share, payable on December 9, 2022, to stockholders recorded as of November 25, 2022. This reflects an 18% increase compared to last year and represents 25% of the trailing twelve-month Non-GAAP net income through September 30, 2022. The company highlights its commitment to delivering value to stockholders through consistent dividend increases, marking the ninth consecutive year of growth since its IPO in June 2013.

Positive

• Quarterly cash dividend increased by 18% to $0.59.
• Represents 25% of trailing-twelve-month Non-GAAP net income.
• Ninth consecutive year of dividend increases since IPO in June 2013.

Negative

• None.

Reinforces Ongoing Commitment to Delivering Value to Stockholders

LINCOLNSHIRE, Ill.--(BUSINESS WIRE)-- 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 $0.59 per common share to be paid on December 9, 2022 to all stockholders of record as of the close of business on November 25, 2022. This amount represents a 18 percent increase over last year’s dividend and approximately 25 percent of the trailing-twelve-month Non-GAAP net income through September 30, 2022. 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 our leverage ratio within our targeted range, making strategic investments and share repurchases," said Albert J. Miralles, chief financial officer, CDW. "The fourth quarter 2022 dividend demonstrates our confidence in the earnings power and cash flow generation of the business and marks the ninth consecutive year of increases since our IPO in June 2013, with the dividend growing at a compound annual growth rate of 34 percent from its initial level. We continue to intend to use cash flow after dividends to execute on our stated capital allocation priorities for 2022."

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 15,000 coworkers. For the trailing twelve months ended September 30, 2022, CDW generated Net sales of approximately $24 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, 2021 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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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

Source: CDW Corporation

FAQ

What is the dividend amount declared by CDW for December 2022?

CDW has declared a dividend of $0.59 per common share.

When will CDW's dividend be paid?

The dividend will be paid on December 9, 2022.

What is the record date for CDW's dividend payment?

The record date for the dividend payment is November 25, 2022.

How much has CDW increased its dividend compared to last year?

CDW's dividend has increased by 18% compared to last year.

How many consecutive years has CDW increased its dividend?

CDW has increased its dividend for nine consecutive years since its IPO.