RTTNews | Feb 10, 2021 07:40AM EST

07:40 Wednesday, February 10, 2021 (RTTNews.com) - CDW Corp. (CDW), a multi-brand provider of information technology solutions, said Wednesday that its board of directors has authorized a $1.25 billion increase to the company's share repurchase program and also declared a quarterly cash dividend.

The cash dividend of $0.40 per common share to be paid on March 10, 2021 to all stockholders of record as of the close of business on February 25, 2021. This represents a 5.3 percent increase over last year's dividend.

The company noted that the $1.25 billion authorization is incremental to the $338 million unused in the repurchase program as of December 31, 2020. The program was initially authorized for $500 million in November 2014, and reauthorized for an incremental $750 million in both May 2016 and August 2017, and $1 billion in February 2019.

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