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 has secured a two-year contract with the Ministry of Defence and NATO’s Allied Rapid Reaction Corps (ARRC) for the LELANTOS Command, Control and Communication (C3) program. This collaboration aims to enhance the HQ’s survivability, maneuverability, and deployability through technological innovations. The program will leverage state-of-the-art technology and foster digital transformation. The partnership with Viasat UK will challenge existing capabilities and drive agile C3 innovation, reflecting the UK’s commitment to NATO.
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CDW Corporation (NASDAQ: CDW) announced a $700 million offering of 3.25% senior notes due in 2029, increasing its initial offering by $70 million. The notes are priced at 100% of par and the sale is expected to conclude on August 13, 2020. Proceeds will be used to redeem $600 million of outstanding senior notes due 2025 at a redemption price of 103.75%, as well as cover related fees and expenses. The offering is guaranteed by CDW Corporation and its subsidiaries.
CDW Corporation (NASDAQ: CDW) announced its intention to offer $630 million in senior notes due 2029. The proceeds will be used to redeem all outstanding $600 million senior notes due 2025 at a redemption price of 103.75%, plus accrued interest. The redemption depends on the successful pricing and closing of this offering. Morgan Stanley and other leading firms are acting as joint book-running managers for the note offering. CDW's subsidiary guarantees the notes on a senior unsecured basis, while the press release emphasizes that all forward-looking statements are subject to various risks.
CDW Corporation (Nasdaq: CDW) has declared a quarterly cash dividend of $0.38 per common share, scheduled for payment on September 10, 2020. This dividend marks a 28.8% increase compared to the previous year. Shareholders of record as of the close of business on August 25, 2020 will be eligible. CDW's CFO, Collin B. Kebo, expressed confidence in the company's liquidity and cash flow generation, emphasizing that the dividend remains a key capital priority, while share repurchases are currently on hold due to COVID-19.
CDW reported second quarter 2020 net sales of $4,366 million, down 5.7% from Q2 2019. Year-to-date sales increased 1.9% to $8,755 million. Gross profit for Q2 was $747 million with a margin of 17.1%, while year-to-date gross profit grew 4.0%. Operating income for Q2 dropped 5.6% to $283 million. Net income was $189 million, a decrease of 3.8%, but year-to-date net income rose 2.2% to $357 million. CDW's board declared a quarterly dividend of $0.38 per share, payable September 10, 2020.
CDW Corporation (Nasdaq: CDW) will host a webcast conference call to discuss its second quarter 2020 results on August 5, 2020, at 7:30 a.m. CT. The live audio webcast will be available on investor.CDW.com. A replay of the call will be accessible shortly after the event. CDW is a Fortune 500 technology solutions provider with over $18 billion in net sales for the trailing twelve months ended March 31, 2020.
CDW Corporation (Nasdaq: CDW) announced that CEO Christine A. Leahy will participate in a Q&A session at the BofA Securities 2020 Global Technology Conference on June 2, 2020, at 12:00 p.m. CT. This session will be webcast live, and an archived version will be available for 180 days post-event. As a leading technology solutions provider to various sectors, CDW generated over $18 billion in net sales for the trailing twelve months ending March 31, 2020. The company serves customers in the U.S., U.K., and Canada.
CDW Corporation (Nasdaq:CDW) announced a quarterly cash dividend of $0.38 per share, reflecting a 28.8% increase from the previous year. The dividend will be paid on June 10, 2020, to stockholders recorded by May 25, 2020. The company highlighted its strong liquidity and cash flow generation capabilities, despite challenges posed by COVID-19. To enhance liquidity, CDW issued $600 million of senior unsecured notes and suspended share repurchases, signaling a cautious yet confident approach to capital management.
CDW Corporation reported strong first quarter 2020 results, achieving net sales of $4,389 million, a 10.9% increase from $3,958 million in Q1 2019. Gross profit rose to $757 million, up 12.6%, while net income increased by 9.8% to $168 million. Non-GAAP measures showed operating income of $304 million, a 5.8% increase. The company plans a quarterly cash dividend of $0.38 per share, payable on June 10, 2020, reflecting its commitment to shareholder returns amidst a challenging market environment influenced by COVID-19.