IT-services provider CDW Corp. (CDW) will raise its quarterly dividend by 31.3 percent to $0.21 per share in the fourth quarter of 2017.

The increased dividend will be paid on December 11, 2017 to shareholders of record on November 24, 2017. The new dividend yield for CDW is 1.2%.

“Since the IPO our annual cash dividend has increased nearly five-fold to 84 cents per share from 17 cents per share,” said Ann E. Ziegler, senior vice president & chief financial officer, CDW.  “Annual dividend increases are an important component of our capital allocation strategy, along with share repurchases and strategic acquisitions, to deliver value to our shareholders just as we've delivered value to our customers and partners for more than 30 years."

CDW Corporation (CDW) provides integrated information technology solutions to small, medium and large business, government, education and healthcare customers in the United States, Canada, and the UnitedKingdom. The company's offerings range from discrete hardware and software products to integrated IT solutions such as mobility, security, data centeroptimization, cloud computing, virtualization and collaboration. CDW was founded in 1984 and became a public company in 1993.