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

PC Connection, Inc. (NASDAQ:CNXN - Get Free Report) announced a quarterly dividend on Tuesday, February 4th,Wall Street Journal reports. Investors of record on Tuesday, February 25th will be given a dividend of 0.15 per share on Friday, March 14th. This represents a $0.60 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date is Tuesday, February 25th. This is a positive change from PC Connection's previous quarterly dividend of $0.10.

PC Connection has a dividend payout ratio of 16.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect PC Connection to earn $4.23 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 14.2%.

PC Connection Price Performance

NASDAQ CNXN traded up $1.45 on Monday, reaching $64.96. 97,610 shares of the company's stock traded hands, compared to its average volume of 78,077. The stock has a market cap of $1.71 billion, a PE ratio of 19.74, a P/E/G ratio of 1.87 and a beta of 0.67. PC Connection has a 12 month low of $57.47 and a 12 month high of $77.19. The stock has a 50-day simple moving average of $71.10 and a 200 day simple moving average of $71.39.

PC Connection (NASDAQ:CNXN - Get Free Report) last released its earnings results on Wednesday, February 5th. The company reported $0.78 EPS for the quarter, missing the consensus estimate of $0.90 by ($0.12). PC Connection had a net margin of 3.11% and a return on equity of 9.74%. During the same quarter in the prior year, the business posted $0.90 EPS. As a group, analysts anticipate that PC Connection will post 3.43 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded PC Connection from a "hold" rating to a "buy" rating in a report on Thursday, November 28th.

Insider Buying and Selling at PC Connection

In other PC Connection news, Director Negrini David Beffa sold 5,000 shares of the business's stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $70.00, for a total value of $350,000.00. Following the transaction, the director now owns 71,750 shares in the company, valued at approximately $5,022,500. The trade was a 6.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 56.90% of the company's stock.

PC Connection Company Profile

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.