Systemax Declares $2.00 Per Share Special Dividend

Rhea-AI Summary

Systemax (NYSE: SYX) has declared a special cash dividend of $2.00 per share, payable on December 28, 2020, to shareholders of record as of December 18, 2020. This marks the fourth special dividend in four years, contributing to nearly $500 million in dividends paid since 2018. The company cites a strong balance sheet and robust cash generation as factors enabling this distribution, with plans to continue supporting future growth and regular dividends.

Positive

• Special cash dividend of $2.00 per share.
• Total dividends paid since 2018 approaching $500 million.
• Strong balance sheet and cash generation enable future growth.

Negative

• None.

PORT WASHINGTON, N.Y., Dec. 8, 2020 /PRNewswire/ -- Systemax Inc. (NYSE: SYX), today announced that its Board of Directors has declared a special cash dividend of $2.00 per share to shareholders of the company's common stock. The special dividend will be payable on December 28, 2020 to shareholders of record as of the close of business on December 18, 2020. A portion of this distribution may be considered a return of capital for tax purposes. Additional information regarding return of capital distributions are expected to be made available at Systemax's investor relations website in early 2021.

Richard Leeds, Executive Chairman, said, "With this special dividend, our fourth in four years, we will have paid to shareholders almost $500 million in dividends since 2018. Our strong balance sheet, continued cash generation, and business momentum provide significant flexibility to execute our strategic plan, invest in our future growth, and to fund our regular quarterly dividend."

About Systemax Inc.

Systemax Inc. (www.systemax.com), through its operating subsidiaries, is a provider of industrial products in North America going to market through a system of branded e-Commerce websites and relationship marketers. The primary brand is Global Industrial.

Investor/Media Contact:
Mike Smargiassi/ Ryan Golden
The Plunkett Group
212-739-6740
mike@theplunkettgroup.com/ ryan@theplunkettgroup.com

 

View original content:http://www.prnewswire.com/news-releases/systemax-declares-2-00-per-share-special-dividend-301188431.html

SOURCE Systemax Inc.

FAQ

What is the special dividend declared by Systemax?

Systemax declared a special cash dividend of $2.00 per share.

When will the special dividend be paid?

The special dividend will be paid on December 28, 2020.

What is the record date for the dividend?

The record date for the dividend is December 18, 2020.

How much has Systemax paid in dividends since 2018?

Systemax has paid nearly $500 million in dividends since 2018.

What does return of capital mean for the dividend?

A portion of the dividend may be considered a return of capital for tax purposes.