CDW Authorized $750 Mln Increase In Share Repurchase

CDW Corporation (CDW), a provider of IT solutions, said on Wednesday that it has authorized a $750 million increase to the company's existing share repurchase program.

In addition, for the fourth-quarter, the company has raised its quarterly cash dividend.

The $750 million authorization is in addition to around $88 million remaining from the previous program as of December 31, 2022. The buyback was initially authorized for $500 million in 2014, and increased by $750 million in both 2016 and 2017, $1 billion in 2019, and $1.25 billion in 2021.

The company also said it will pay a cash dividend of $0.59 per share on March 10, to shareholders of record on February 24. The dividend amount represents a 18 percent increase over the last year.

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