Wesco Declares Quarterly Dividend on Common Stock and Preferred Stock

Rhea-AI Summary

Wesco International (NYSE: WCC) announced that its Board of Directors has declared a quarterly cash dividend of $0.4125 per share on common stock, payable on June 28, 2024, to shareholders of record as of June 14, 2024. The Board also declared a dividend on its 10.625% Series A Fixed-Rate Reset Cumulative Perpetual Preferred Stock, amounting to $664.0625 per preferred share ($0.6640625 per depository share), payable on July 1, 2024, to holders of record as of June 14, 2024.

Wesco, a Fortune 500 company headquartered in Pittsburgh, Pennsylvania, reported annual sales exceeding $22 billion. The company specializes in business-to-business distribution, logistics, and supply chain solutions, employing around 20,000 people and operating nearly 800 branches globally.

Positive

• Declared a quarterly cash dividend of $0.4125 per share on common stock, signaling financial stability.
• Declared a quarterly dividend on 10.625% Series A Preferred Stock, highlighting consistent returns for preferred shareholders.
• Wesco reported over $22 billion in annual sales, showcasing strong financial performance.
• Company's global footprint includes nearly 800 branches in over 50 countries, indicating extensive market reach.

Negative

• No specific negative financial or operational aspects disclosed in the PR.

News Market Reaction

+0.35%

1 alert

+0.35% News Effect

On the day this news was published, WCC gained 0.35%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

PITTSBURGH, May 30, 2024 /PRNewswire/ -- The Board of Directors of Wesco International (NYSE: WCC) today declared a quarterly cash dividend on all of the issued and outstanding shares of common stock, in an amount equal to $0.4125 per share. The dividend is payable on June 28, 2024 to the holders of record of the common stock at the close of business on June 14, 2024.

In addition, the Board of Directors declared cash dividends on the company's 10.625% Series A Fixed-Rate Reset Cumulative Perpetual Preferred Stock for the period April 1, 2024 through June 30, 2024. The dividend is $664.0625 per preferred share, or $0.6640625 per depository share, and is payable on July 1, 2024 to holders of record at the close of business on June 14, 2024.

About Wesco 

Wesco International (NYSE: WCC) builds, connects, powers and protects the world. Headquartered in Pittsburgh, Pennsylvania, Wesco is a FORTUNE 500® company with more than $22 billion in annual sales and a leading provider of business-to-business distribution, logistics services and supply chain solutions. Wesco offers a best-in-class product and services portfolio of Electrical and Electronic Solutions, Communications and Security Solutions, and Utility and Broadband Solutions. The Company employs approximately 20,000 people, partners with the industry's premier suppliers, and serves thousands of customers around the world. With millions of products, end-to-end supply chain services, and leading digital capabilities, Wesco provides innovative solutions to meet customer needs across commercial and industrial businesses, contractors, government agencies, educational institutions, telecommunications providers, and utilities. Wesco operates nearly 800 branches, warehouses and sales offices in more than 50 countries, providing a local presence for customers and a global network to serve multi-location businesses and global corporations.

Contact Information
Investor Relations	Corporate Communications
Will Ruthrauff Director, Investor Relations 484-885-5648	Jennifer Sniderman Sr. Director, Corporate Communications 717-579-6603

 

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SOURCE Wesco International

FAQ

What dividend did Wesco declare for common stock on May 30, 2024?

Wesco declared a quarterly cash dividend of $0.4125 per share on common stock on May 30, 2024.

When is the record date for Wesco's common stock dividend?

The record date for Wesco's common stock dividend is June 14, 2024.

When will Wesco's common stock dividend be paid?

Wesco's common stock dividend will be paid on June 28, 2024.

What is the dividend amount for Wesco's Series A Preferred Stock?

The dividend amount for Wesco's Series A Preferred Stock is $664.0625 per preferred share or $0.6640625 per depository share.

When will Wesco's Series A Preferred Stock dividend be paid?

Wesco's Series A Preferred Stock dividend will be paid on July 1, 2024.

What is the record date for Wesco's Series A Preferred Stock dividend?

The record date for Wesco's Series A Preferred Stock dividend is June 14, 2024.

How much did Wesco report in annual sales?

Wesco reported over $22 billion in annual sales.

How many employees does Wesco have?

Wesco employs approximately 20,000 people.

How many branches does Wesco operate globally?

Wesco operates nearly 800 branches, warehouses, and sales offices in more than 50 countries.