Connection (CNXN) Announces a Special Dividend to Shareholders
Connection (NASDAQ: CNXN) announced a special cash dividend of $1.00 per share, payable on December 3, 2021, to shareholders on record by November 18, 2021. This dividend totals approximately $26.2 million. Timothy McGrath, CEO, highlighted the company's strong balance sheet, which supports dividend payments and business growth. Future dividends will depend on the company's financial health and strategic plans.
- Declared a special cash dividend of $1.00 per share, totaling approximately $26.2 million.
- Strong balance sheet enables continued growth while paying dividends.
- None.
" Our strong balance sheet allows us to pay this dividend while maintaining the ability to continue to grow the business," said
While Connection is pleased to be in a position to pay a special dividend again this year, the declaration and payment of dividends is at the discretion of the Board of Directors of Connection and any declaration of future cash dividends will depend upon Connection’s financial position, strategic plans, general business conditions and any other factors deemed relevant by the Board of Directors of Connection.
About Connection
Connection–Business Solutions (800.800.5555) is a rapid-response provider of IT products and services serving primarily the small-and medium-sized business sector. It offers more than 425,000 brand-name products through its staff of technically trained sales account managers, publications, and its website at www.connection.com.
Connection–Enterprise Solutions (561.237.3300), www.connection.com/enterprise, provides corporate technology buyers with best-in-class IT solutions, in-depth IT supply-chain expertise, and access to over 425,000 products and 1,600 vendors through MarkITplace®, a proprietary next-generation, cloud-based supply chain solution. The team’s engineers, software licensing specialists, and subject matter experts help reduce the cost and complexity of buying hardware, software, and services throughout the entire IT lifecycle.
Connection–Public Sector Solutions (800.800.0019), is a rapid-response provider of IT products and services to federal, state, and local government agencies and educational institutions through specialized account managers, publications, and online at www.connection.com/publicsector.
"Safe Harbor" Statement Under the Private Securities Litigation Reform Act of 1995: This release contains forward-looking statements that are based on currently available information, operating plans, and projections about future events and trends. Terms such as "believe," "expect," "intend," "plan," "estimate," "anticipate," "may," "should," "will," or similar statements or variations of such terms are intended to identify forward-looking statements, although not all forward-looking statements include such terms. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from those predicted in such forward-looking statements. Such risks and uncertainties include, but are not limited to, the continuation of the COVID-19 pandemic, including, without limitation, its impact on global supply chains and responses to it, the impact of changes in market demand and the overall level of economic activity and environment, or in the level of business investment in information technology products, product availability and market acceptance, new products, continuation of key vendor and customer relationships and support programs, the ability to realize market demand for and competitive pricing pressures on the products and services marketed by the Company, fluctuations in operating results and the ability of the Company to manage personnel levels in response to fluctuations in revenue, the ability of the Company to hire and retain qualified sales representatives and other essential personnel, the impact of changes in accounting requirements, continued successful integration of the new ERP system, and other risks detailed in the Company's filings with the
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Corporate Communications Contact:
lynn.mackenzie@connection.com
Investor Relations Contact:
Senior Vice President, CFO, and Treasurer
tom@connection.com
Source: Connection
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