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

PC Connection, Inc. (NASDAQ:CNXN) announced a quarterly dividend on Thursday, February 6th,Wall Street Journal reports. Shareholders of record on Tuesday, February 25th will be paid 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 0.94%. The ex-dividend date is Tuesday, February 25th. This is an increase from PC Connection’s previous quarterly dividend of $0.10.

PC Connection has a dividend payout ratio of 9.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect PC Connection to earn $3.59 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 11.1%.

PC Connection Trading Down 10.8 %

CNXN opened at $63.97 on Friday. The stock’s 50 day simple moving average is $71.49 and its 200-day simple moving average is $71.37. The stock has a market cap of $1.68 billion, a PE ratio of 18.76, a P/E/G ratio of 2.07 and a beta of 0.67. PC Connection has a 1 year low of $57.47 and a 1 year high of $77.19.

PC Connection (NASDAQ:CNXN) last released its quarterly earnings data on Wednesday, February 5th. The company reported $0.78 EPS for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.12). PC Connection had a return on equity of 10.30% and a net margin of 3.23%. During the same quarter in the prior year, the company earned $0.90 EPS. Equities analysts forecast that PC Connection will post 3.37 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Insider Activity at PC Connection

In other news, Director Negrini David Beffa sold 5,000 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $70.00, for a total value of $350,000.00. Following the completion of the sale, the director now directly owns 71,750 shares in the company, valued at approximately $5,022,500. This trade represents a 6.51 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 56.50% of the stock is currently owned by insiders.

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.