PC Connection, Inc. to Issue Quarterly Dividend of $0.15 (NASDAQ:CNXN)

PC Connection, Inc. (NASDAQ:CNXN) announced a quarterly dividend on Tuesday, April 29th, NASDAQ Dividends reports. Investors of record on Tuesday, May 13th will be paid a dividend of 0.15 per share on Friday, May 30th. This represents a $0.60 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date of this dividend is Tuesday, May 13th.

PC Connection has a payout ratio of 15.5% 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

CNXN opened at $69.13 on Friday. PC Connection has a 1-year low of $56.82 and a 1-year high of $77.19. The stock has a market cap of $1.76 billion, a P/E ratio of 21.01, a P/E/G ratio of 1.96 and a beta of 0.67. The stock’s 50 day simple moving average is $62.40 and its 200 day simple moving average is $67.32.

PC Connection (NASDAQ:CNXN) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.18. PC Connection had a return on equity of 9.74% and a net margin of 3.11%. The business had revenue of $701.05 million during the quarter, compared to analysts’ expectations of $646.37 million. Research analysts expect that PC Connection will post 3.33 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of PC Connection from a “strong-buy” rating to a “buy” rating in a research report on Friday.

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.