PC Connection, Inc. (NASDAQ:CNXN) Announces Quarterly Dividend of $0.10

PC Connection, Inc. (NASDAQ:CNXN) announced a quarterly dividend on Wednesday, July 31st, Zacks reports. Investors of record on Tuesday, August 13th will be paid a dividend of 0.10 per share on Friday, August 30th. This represents a $0.40 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date of this dividend is Tuesday, August 13th.

PC Connection has a dividend payout ratio of 10.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect PC Connection to earn $3.82 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 10.5%.

PC Connection Stock Performance

PC Connection stock traded down $2.18 during trading on Friday, reaching $72.89. 1,792 shares of the company’s stock were exchanged, compared to its average volume of 75,319. The company’s 50-day moving average is $65.76 and its two-hundred day moving average is $65.45. PC Connection has a 52-week low of $48.29 and a 52-week high of $76.39. The firm has a market cap of $1.92 billion, a price-to-earnings ratio of 24.06, a PEG ratio of 2.14 and a beta of 0.61.

PC Connection (NASDAQ:CNXN) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.14). PC Connection had a return on equity of 10.63% and a net margin of 3.22%. The business had revenue of $632.03 million for the quarter, compared to analysts’ expectations of $694.19 million. During the same period last year, the company posted $0.56 earnings per share. Analysts anticipate that PC Connection will post 3.35 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of PC Connection from a “strong-buy” rating to a “buy” rating in a research report on Friday, April 26th.

Insider Buying and Selling at PC Connection

In other PC Connection news, Director Barbara Duckett sold 1,000 shares of the company’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $68.08, for a total value of $68,080.00. Following the completion of the transaction, the director now directly owns 13,877 shares of the company’s stock, valued at approximately $944,746.16. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 56.90% of the stock is currently owned by corporate 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.