PC Connection, Inc. (NASDAQ:CNXN) Declares Dividend Increase – $0.15 Per Share

PC Connection, Inc. (NASDAQ:CNXN) declared a quarterly dividend on Tuesday, February 4th, Wall Street Journal reports. Stockholders of record on Tuesday, February 25th will be given a dividend of 0.15 per share on Friday, March 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date is Tuesday, February 25th. This is a positive change from PC Connection’s previous quarterly dividend of $0.10.

PC Connection has a payout ratio of 16.0% meaning its dividend is sufficiently covered by earnings. Analysts expect PC Connection to earn $3.76 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 16.0%.

PC Connection Price Performance

Shares of CNXN opened at $65.03 on Friday. PC Connection has a one year low of $57.47 and a one year high of $77.19. The company’s fifty day moving average price is $69.59 and its 200 day moving average price is $71.04. The company has a market capitalization of $1.71 billion, a PE ratio of 19.77, a price-to-earnings-growth ratio of 1.96 and a beta of 0.67.

PC Connection (NASDAQ:CNXN) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.12). PC Connection had a return on equity of 9.74% and a net margin of 3.11%. During the same quarter last year, the company posted $0.90 earnings per share. Analysts anticipate that PC Connection will post 3.33 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded PC Connection from a “hold” rating to a “buy” rating in a research report on Thursday, November 28th.

About PC Connection

PC Connection, Inc, together with its subsidiaries, provides a range of information technology (IT) solutions. The company operates through three segments: Business Solutions, Enterprise Solutions, and Public Sector Solutions. It offers IT products, such as computer systems, software and peripheral equipment, networking communications, and other products and accessories.