CDW Corporation reports news about its role as a multi-brand provider of information technology solutions for business, government, education and healthcare customers in the United States, the United Kingdom and Canada. Company updates commonly cover hardware, software, integrated IT solutions and services across hybrid infrastructure, cloud capabilities, digital experience and security.
Recurring CDW developments include operating results, quarterly cash dividends, investor conference participation, executive and strategy roles, segment activity and cybersecurity research from CDW Canada. News also reflects customer demand trends across Commercial, Government, Education and international operations grouped in Other.
CDW Corporation (Nasdaq: CDW) announced a quarterly cash dividend of $0.40 per common share, reflecting a 5.3% increase from last year. The dividend will be paid on June 10, 2021, to shareholders of record as of May 25, 2021. Since its IPO in June 2013, CDW's dividend has increased over nine-fold, with approximately $3.8 billion returned to shareholders through dividends and share repurchases. The company emphasizes that dividends are a key part of its capital allocation strategy, alongside managing leverage and strategic acquisitions.
CDW Corporation (Nasdaq:CDW) reported strong Q1 2021 results, with net sales reaching $4,838 million, a 10.2% increase from $4,389 million in Q1 2020. Gross profit grew to $795 million, a 5.1% rise year-over-year, while operating income surged 31.6% to $323 million. Non-GAAP net income per diluted share rose 26.2% to $1.74. CDW's board approved a quarterly dividend of $0.40, set for June 10, 2021. The company anticipates low double-digit growth in Non-GAAP net income per diluted share for 2021, exceeding previous market growth expectations.
CDW Corporation (Nasdaq: CDW) will host a webcast conference call on May 5, 2021, at 7:30 a.m. CT to discuss its first-quarter 2021 results. The call will be accessible on investor.CDW.com, where participants can find the press release and presentation slides. A replay will be available shortly after the call. CDW, a Fortune 500 company, generated over $18 billion in net sales for the fiscal year ending December 31, 2020, and serves business, government, education, and healthcare sectors across the U.S., U.K., and Canada.
CDW Corporation (Nasdaq: CDW) has appointed Sanjay Mehrotra to its board of directors, effective March 24, 2021. Mehrotra, currently CEO of Micron Technology, brings extensive experience from co-founding SanDisk Corporation. The recruitment is part of CDW's strategy to enhance board diversity and innovation. Concurrently, the company acknowledged the retirement of board members Steven Alesio, Barry Allen, and Benjamin Chereskin, effective before the annual stockholders meeting on May 20, 2021, reducing the board size to ten members. CDW generated net sales exceeding $18 billion in 2020.
CDW Corporation (Nasdaq: CDW) has acquired Amplified IT, a leading education-focused consultancy, enhancing its capabilities in the K12 and Higher Education markets. The acquisition is intended to address the increasing technology needs of educational institutions, combining Amplified IT's expertise with CDW's extensive reach. Amplified IT, a Google Premium education partner, specializes in providing insights and consulting services for schools utilizing Google Cloud. The financial terms were not disclosed, but the acquisition is expected to be minimally accretive to CDW's 2021 non-GAAP earnings per share.
CDW Corporation (Nasdaq:CDW) announced the participation of Christine A. Leahy, CEO, and Collin B. Kebo, CFO, in a Q&A session at the Morgan Stanley 2021 Technology, Media and Telecom Conference. This virtual event is scheduled for March 3, 2021, at 2:30 p.m. CT/3:30 p.m. ET. The session will be available via live webcast at investor.cdw.com, with an archived version accessible for 180 days thereafter. CDW, a Fortune 500 company, reported over $18 billion in net sales for the year ending December 31, 2020.
CDW Corporation (Nasdaq:CDW) has increased its share repurchase program by $1.25 billion and declared a quarterly cash dividend of $0.40 per share, reflecting a 5.3% increase from last year. This significant move underscores CDW's commitment to enhancing shareholder value, driving the total returned to shareholders to over $3.4 billion since its IPO in 2013. The new authorization adds to the $338 million already available in the repurchase program. Future dividends and repurchases are contingent upon Board approval and market conditions.
CDW Corporation (Nasdaq:CDW) reported strong fourth quarter and year-end results for 2020, with net sales of $4,956 million, marking a 9.2% increase year-over-year. For the full year, net sales reached $18,468 million, up 2.4%. Gross profit rose 5.6% to $3,210 million, with a gross profit margin of 17.4%. Net income for Q4 was $238 million, a 28.4% increase, leading to a diluted EPS of $1.65, up 29.6%. The Board approved a $1.25 billion increase in share repurchase authorization and announced a quarterly dividend of $0.40 per share. For 2021, CDW expects to outpace US IT market growth by 200-300 basis points.
CDW Corporation (Nasdaq:CDW) announced a webcast conference call for discussing its fourth quarter and full year 2020 results on February 10, 2021, at 7:30 a.m. CT. The call will be accessible via investor.CDW.com. The company reported net sales exceeding $18 billion for the trailing twelve months ending September 30, 2020.
CDW Corporation (Nasdaq: CDW) announced the appointment of Anthony Foxx to its board of directors, effective January 1, 2021. Foxx brings a wealth of experience from both public and private sectors, including his role as chief policy officer at Lyft and as the seventeenth United States Secretary of Transportation. His leadership at the DOT included initiatives for self-driving vehicles and smart technology integration. CDW's CEO, Christine A. Leahy, expressed confidence in Foxx's ability to provide vital insights as the company innovates for its customers.