CDW Corporation - CDW STOCK NEWS

CDW Corporation announced a $750 million increase to its share repurchase program and declared a quarterly cash dividend of $0.59 per share, reflecting an 18 percent rise from last year's dividend. The dividend will be paid on March 10, 2023, to all stockholders of record as of February 24, 2023. Since its IPO in June 2013, CDW has returned over $5.5 billion to stockholders through dividends and share repurchases. The new buyback is incremental to about $88 million remaining from the previous program. CDW emphasizes delivering value through strategic capital allocation and dividend growth.

CDW Corporation (Nasdaq: CDW) reported its fourth quarter and annual results for 2022, showcasing a mixed performance. In Q4, net sales were $5,438 million, a 1.8% decline from 2021, with a constant currency decrease of 0.4%. However, full-year net sales rose 14.1% to $23,749 million, bolstered by the Sirius acquisition. Gross profit increased 21.1% in Q4, reaching $1,181 million, while operating income soared 31.6% to $447 million. The company raised its quarterly dividend by 18% to $0.59 per share and authorized an additional $750 million for share repurchases. CDW anticipates increasing its market growth by 200-300 basis points in 2023.

CDW Corporation (Nasdaq: CDW) will host a webcast conference call on February 8, 2023, at 7:30 a.m. CT to discuss its fourth quarter and full year 2022 results. Interested parties can access the webcast, which will include audio and slides, on the investor.CDW.com site. Participants should aim to log in at least 15 minutes beforehand to ensure the necessary software is installed. A replay of the webcast will be available shortly after the call.

CDW, a leading multi-brand IT solutions provider with over $24 billion in net sales for the trailing twelve months ended September 30, 2022, serves customers across the US, UK, and Canada.

CDW Corporation announced key changes to its Board of Directors, with Christine A. Leahy appointed as Board Chair, following her role as CEO since 2019. Under her leadership, net sales grew from $16 billion to approximately $24 billion in the trailing twelve months ending September 30, 2022. David W. Nelms transitions to Lead Independent Director, while Marc E. Jones joins the Board, expanding it from 10 to 11 members. Jones brings extensive technology industry experience, currently serving as CEO of Aeris Communications.

CDW has been awarded the 2022 Global Customer Value Leadership Award by Frost & Sullivan for its excellence in digital transformation services. The recognition highlights CDW's extensive portfolio, which includes cloud, security, and IT solutions, supporting clients through supply chain challenges. With a workforce of 15,000 and $24 billion in net sales over the past year, CDW demonstrates a commitment to customer-centric strategies and innovative technology solutions. This award emphasizes the company's impact on customer retention and value creation in the digital transformation sector.

The inaugural season of UNDERRATED Golf, launched by Stephen Curry, concluded successfully with the Curry Cup on August 30, 2022, at TPC Harding Park, naming Ashley Shaw and Roman Solomon champions. This initiative, aimed at empowering underrepresented youth in golf, involved support from significant corporate partners, including CDW and Cisco, providing training and equipment to 136 junior golfers. The program also addresses gender equity in sports, focusing on educational opportunities and career-building courses through Curry's upcoming 'Curry Academy'.

CDW Corporation (Nasdaq: CDW) announced that CEO Christine A. Leahy and CFO Albert J. Miralles will attend the Credit Suisse 26th Annual Technology Conference on November 29, 2022, at 2:00 PM CT in Scottsdale, Arizona. The session will feature a Q&A format and will be available for live viewing via webcast on investor.cdw.com. An archived version will be accessible for one year post-event. CDW, a Fortune 500 company, reported net sales of approximately $24 billion for the trailing twelve months ended September 30, 2022.

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.

CDW Corporation reported strong third quarter 2022 results, achieving net sales of $6,216 million, a 17.3% increase from last year, aided by the acquisition of Sirius Computer Solutions. Gross profit rose to $1,233 million with a margin of 19.8%. Net income was $298 million, an 11.7% increase, translating to $2.17 per diluted share. The board approved a quarterly cash dividend of $0.59 per share. CDW expects to maintain a premium on U.S. IT market growth between 325 to 425 basis points. Overall, the results underscore CDW's robust business model and adaptability in a dynamic market.