SYNNEX Corporation (SNX) will raise its quarterly dividend by 16.7 percent to $0.30 per share. This follows a 20.0 percent dividend increase in the previous year.

The next dividend is payable on January 31, 2018 to stockholders of record as of the close of business on January 19, 2018. In the press release the SYNNEX Board of Directors states that it will assess the dividend on an annual basis each January.

SYNNEX Corporation is a business process services company, providing distribution, logistics and integration services for the technology industry and providing outsourced services focused on customer engagement strategy to a broad range of enterprises. Founded in 1980, SYNNEX Corporation has operations in North and South America, Asia-Pacific and Europe. In 1994 the company changed its name from Compac to SYNNEX (SYNNEX = Synergy + Nexus) and in 2003 SYNNEX became a public company through its Initial Public Offering on the New York Stock Exchange.