LINCOLNSHIRE -- CDW Corp. Wednesday said its board of directors has authorized a $1.25 billion increase to the company's share repurchase program.
The $1.25 billion authorization increases the $338 million unused in the repurchase program as of Dec. 31, the company said. The program was initially authorized for $500 million in November 2014 and has been reauthorized and increased several times since.
The company, a computer and technology solutions provider to business, government, education and health care customers, also announced a quarterly cash dividend of 40 cents per common share to be paid on March 10.
"Share repurchases and annual dividend increases are important components of our capital allocation strategy to deliver value to our stockholders just as we have delivered value to our customers and partners for more than 35 years," said Collin B. Kebo, chief financial officer or CDW.