CDW Declares Quarterly Cash Dividend of $0.50 Per Share
August 03 2022 - 7:05AM
Business Wire
Reinforces Ongoing Commitment to Delivering
Value to Stockholders
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 $0.50 per common share to be
paid on September 9, 2022 to all stockholders of record as of the
close of business on August 25, 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 leverage to our target
ratio, making strategic investments and share repurchases. Since
our IPO in June 2013, our dividend has increased over 10-fold and
we have returned approximately $5.4 billion to shareholders through
share repurchases and dividends," said Albert J. Miralles, chief
financial officer, CDW. "We continue to intend to use cash flow
after dividends to achieve our net leverage target range by the end
of 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 14,600
coworkers. For the trailing twelve months ended June 30, 2022, CDW
generated Net sales of approximately $23 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
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