PC Connection, Inc. (NASDAQ:CNXN) to Issue $0.10 Quarterly Dividend

PC Connection, Inc. (NASDAQ:CNXN) announced a quarterly dividend on Wednesday, October 30th,Zacks Dividends reports. Shareholders of record on Tuesday, November 12th will be given a dividend of 0.10 per share on Friday, November 29th. This represents a $0.40 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date is Tuesday, November 12th.

PC Connection has a dividend payout ratio of 10.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect PC Connection to earn $3.67 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 10.9%.

PC Connection Trading Down 0.5 %

Shares of NASDAQ:CNXN opened at $73.16 on Friday. The company has a market capitalization of $1.92 billion, a price-to-earnings ratio of 21.45, a PEG ratio of 2.22 and a beta of 0.63. PC Connection has a 12-month low of $57.47 and a 12-month high of $77.19. The business has a 50-day moving average price of $72.13 and a 200 day moving average price of $68.47.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of PC Connection from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 29th.

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.