CDW Corporation (NASDAQ:CDW) Plans $0.63 Quarterly Dividend

Key Points

• CDW Corporation has announced a quarterly dividend of $0.63 per share, with a payout date scheduled for September 10th for shareholders of record as of August 25th.
• The company reported earnings of $2.60 per share for the latest quarter, exceeding analyst estimates and reflecting a 10.2% increase in revenue year-over-year.
• CDW currently has a consensus "Hold" rating among analysts, with target prices ranging from $200 to $208.50, indicating a cautious outlook on its stock performance.

CDW Corporation (NASDAQ:CDW - Get Free Report) announced a quarterly dividend on Wednesday, August 6th, RTT News reports. Stockholders of record on Monday, August 25th will be given a dividend of 0.625 per share by the information technology services provider on Wednesday, September 10th. This represents a c) dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Monday, August 25th.

CDW has a payout ratio of 24.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect CDW to earn $10.05 per share next year, which means the company should continue to be able to cover its $2.50 annual dividend with an expected future payout ratio of 24.9%.

CDW Price Performance

Shares of CDW traded up $1.04 during midday trading on Friday, reaching $162.92. The stock had a trading volume of 1,066,641 shares, compared to its average volume of 1,080,320. The firm's 50 day moving average price is $176.17 and its 200-day moving average price is $174.95. The company has a market capitalization of $21.45 billion, a P/E ratio of 20.24, a P/E/G ratio of 2.72 and a beta of 0.95. The company has a debt-to-equity ratio of 2.28, a current ratio of 1.35 and a quick ratio of 1.20. CDW has a 52 week low of $137.31 and a 52 week high of $231.38.

CDW (NASDAQ:CDW - Get Free Report) last announced its earnings results on Wednesday, August 6th. The information technology services provider reported $2.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.49 by $0.11. The company had revenue of $5.98 billion for the quarter, compared to analyst estimates of $5.51 billion. CDW had a return on equity of 53.63% and a net margin of 4.92%. CDW's revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.50 earnings per share. On average, analysts forecast that CDW will post 9.41 earnings per share for the current fiscal year.

CDW Company Profile

CDW Corporation provides information technology (IT) solutions in the United States, the United Kingdom, and Canada. It operates through three segments: Corporate, Small Business, and Public. The company offers discrete hardware and software products and services, as well as integrated IT solutions, including on-premise and cloud capabilities across hybrid infrastructure, digital experience, and security.